Oil Prices Hover Near $62

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Crude futures dipped Friday on reports of falling demand and bulging supplies, though oil prices are still hovering near $62 a barrel amid concerns about unrest and political tensions in major producing nations.


Light sweet crude for March delivery on the New York Mercantile Exchange slipped 92 cents $61.70 a barrel in afternoon trade. In London, Brent crude fell 44 cents to $60.31 on the ICE Futures exchange. Heating oil futures fell by almost a penny to $1.655 per gallon, while gasoline futures declined by almost 4 cents to $1.475 per gallon. Natural gas futures slid 16.9 cents to $7.31 per 1,000 cubic feet.


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