Crude Falls, Natural Gas Rises
MARKETSCOPE : Oil prices fell and natural gas rose on Monday, as investors eyed government reports of cooler weather beginning Nov. 20.
December natural gas futures, which had been skidding on recent forecasts of warmer than normal weather, was up 46 cents. December crude oil futures dropped $1.08 to $59.50, December heating oil futures were off 1.62 cents to 178.00 cents, and December gasoline futures were off 4.80 cents to 156.00 cents.
An Information Energy Administration report says current world energy policies are not sustainable. The IEA also sees huge refining demands over the next 25 years. A Lundberg survey says gasoline prices have fallen over the past two weeks due to increased refining ability and lower demand.