Energy futures retreated Monday after power was restored to a large refinery in Texas and the Bush administration said it was prepared to tap an emergency supply of heating oil in the Northeast.
Light sweet crude for November delivery on the New York Mercantile Exchange fell 77 cents to $65.47 per barrel. Heating oil futures fell by 4.87 cents to $2.0809 per gallon, while gasoline futures fell 3.46 cents to $2.0622 a gallon. November Brent futures slipped 59 cents to $62.89 per barrel on London’s International Petroleum Exchange.
