Oil prices fell Friday as traders took note of warmer weather in the Northeast and locked in profits ahead of the weekend.
Light sweet crude for January delivery declined $1.19 to $58.80 a barrel in midday trade on the New York Mercantile Exchange. February Brent crude on London’s ICE Futures exchange fell 78 cents to $58.62 a barrel. Heating oil futures declined by almost a nickel to $1.7375 a gallon, while gasoline futures dropped by a similar amount to $1.57 a gallon.
