Crude oil prices fell on Wednesday (November 28), as the government reported an increase in supplies at the NYMEX delivery terminal in Cushing, Okla., which is closely watched by traders as a benchmark of oil inventory tightness.
Light, sweet crude for January delivery plunged USD 3.80, to settle at USD 90.62 a barrel on the New York Mercantile Exchange (NYMEX) following Tuesday`s drop of USD 3.28 a barrel.
December gasoline futures dropped 9.73 cents, to settle at USD 2.2757 a gallon on the NYMEX on Wednesday.
The retail gas prices rose 0.5 cents, overnight to USD 3.096 a gallon.
In London, January Brent crude fell USD 2.71, to settle at USD 89.81 a barrel on the ICE Futures exchange.
December heating oil fell 7.96 cents, to settle at USD 2.5738 a gallon on the NYMEX on Wednesday.
December natural gas slipped 35.4 cents, to settle at USD 7.203 per 1,000 cubic feet on the NYMEX.
Thursday, November 29, 2007
Oil slips further
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