Oil prices fell Tuesday after the European Union cut its economic growth forecast and and Federal Reserve Chairman Alan Greenspan expressed confidence that market forces would eventually bring oil prices under control.
Light, sweet crude fell 97 cents to settle at $56.04 a barrel on the New York Mercantile Exchange. Heating oil was down 2.11 cents at $1.6211 a gallon, while unleaded gas was down 3.36 cents to $1.688 a gallon. Brent crude futures fell 79 cents to close at $55.44 a barrel on the International Petroleum Exchange in London.
