Energy Prices Fall to Four-Month Low
MARKETSCOPE : Energy prices fell to a four-month low on Tuesday, according to Bloomberg.
December West Texas Intermediate crude oil fell 71 cents to close the session at $56.98 a barrel on the New York Mercantile Exchange, according to Bloomberg.
December heating oil lost 4.95 cents to $1.6809 a gallon in New York, the lowest close since July 29. December gasoline delivery fell 3.97 cents, or 2.7 percent, to close at $1.4564 a gallon in New York, the lowest since May 26.
Investors waited for more information about energy inventories in Wednesday's Department of Energy report. Organization of Petroleum Exporting Countries officials have indicated they might discuss production cuts at their Dec. 12 meeting; their output has been running at the highest level in 30 years.
December Brent crude oil futures were off 70 cents to $54.03 in London.