Oil prices slipped Friday as traders monitored the recovery on the U.S. Gulf Coast after Hurricane Rita and its possible impact on winter fuel supplies in the northern hemisphere.
Benchmark light sweet crude for November delivery on the New York Mercantile Exchange slipped 10 cents to $66.69 a barrel in electronic trading by midday in Europe. Heating oil contracts, scheduled to expire later Friday, slipped 1.5 cents to $2.1090 a gallon, while gasoline tumbled nearly 6 cents to $2.1950 a gallon. On London’s International Petroleum Exchange, November Brent contracts lost 11 cents to $63.73 a barrel.
