U.S. commercial crude oil inventories are higher than last year but supplies of heating oil are 16 per cent down from a year ago.
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Crude Prices Dropped Monday
Crude oil prices dropped on Monday from last week's rising
Crude oil prices dropped on Monday from last week?s rising, caused by fresh concerns of low winter heating fuels supplies.
US light crude futures for January delivery eased 14 cents a barrel to $48.75 a barrel after rising to $49.55 during the session Monday. In London Brent January futures slipped 29 cents to $44.60 a barrel.
London gas oil, benchmark for European heating fuel purchases, rose nearly 15 per cent from US$400 a tonne on Nov. 15 to peak at US$459.75 on Monday before dealers took profits in late trade to $437 a tonne.
U.S. commercial crude oil inventories are higher than last year but supplies of heating oil are 16 per cent down from a year ago.
U.S. commercial crude oil inventories are higher than last year but supplies of heating oil are 16 per cent down from a year ago.
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