Energy Prices Fall in Later Trade
MARKETSCOPE : Energy prices fell Monday, following their decline last week as investors eye warmer weather in the U.S.
January West Texas Intermediate crude oil prices fell 73 cents to $57.33, January heating oil futures lost 2.78 cents to 170.33 cents, and January gasoline futures plunged 4.20 cents to 152.69 cents. An earlier short covering rally evaporated in later trading Monday.
Investors made their bets ahead of weekly inventory news on Wednesday and Thursday. IFR Energy's Tim Evans believes January natural gas, which rose 52 cents to $14.15, could rally if Thursday's inventory data show the 170 billion cubic feet decrease he envisions.