Energy Prices Lower

The Organization of Petroleum Exporting Countries said it has enough spare supply to cover expected global demand this winter.

MARKETSCOPE : Energy prices fell on Monday, after news that the Organization of Petroleum Exporting Countries has enough spare supply to cover expected global demand.

December natural gas futures skidded 85 cents to $12.21. December West Texas Intermediate crude plunged $1.46 to $59.76.

Acting OPEC Secretary General Adnan Shihab-Eldin said the cartel has "more than adequate" spare capacity of 2 million barrels a day to cover expected global demand this winter.

Expiring November heating oil futures were off 7.37 cents to 176.98 cents and expiring November gasoline futures were off 7.92 cents to 152.61.

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