Oil Drops on Mild Weather Forecast

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Mild weather across the northeastern states sent crude futures sliding more than $1 a barrel Monday as the unseasonable temperatures quelled worries about greater fuel demand this winter.


A barrel of light sweet crude for January delivery dropped $1.36 to settle at $57.35 a barrel on the New York Mercantile Exchange. In London, January Brent crude also fell 19 cents to $54.82 a barrel on the ICE Futures exchange.


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