Oil futures fell Monday and analysts said retail gasoline prices could soon dip below $2 a gallon in some parts of the country. But traders said any relief would likely be short-lived, warning of an upturn in prices come spring.
Light sweet crude for March delivery fell 60 cents to close at $61.24 a barrel on the New York Mercantile Exchange, as traders weighed lagging demand and bulging supplies against political tensions in major producing nations. Brent futures lost 9 cents to $59.55 a barrel on the ICE Futures exchange where the March contract expires at the end of the day.
