Oil prices sagged below $54 a barrel Tuesday as the buying frenzy for heating oil eased.
Light sweet crude for July fell 73 cents to settle at $53.76 a barrel on the New York Mercantile Exchange. Heating oil futures slipped by 1.57 cent to $1.6008 a gallon, and unleaded gas fell by 1.38 cent to $1.5157 a gallon. July Brent on London’s International Petroleum exchange was fetching $53.12, down 68 cents a barrel.
