Crude prices fell Monday as the Organization of Petroleum Exporting Countries said it has “more than adequate” spare capacity to cover expected global demand this winter.
Light sweet crude for December delivery lost 65 cents to $60.57 a barrel in electronic trading on the New York Mercantile Exchange. December Brent futures traded in London fell 74 cents to $58.68 a barrel. Heating oil fell 3 cents to $1.8140 a gallon, while gasoline lost more than 2 cents to $1.5985. Natural gas declined 43 cents to $12.619 per 1,000 cubic feet.
