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Saturday, Feb 4, 2023

Oil Falls as Refinery Fears Ease

Oil prices fell sharply Monday as fears over refinery breakdowns eased after an uneventful weekend.


Light, sweet crude for September delivery dropped 59 cents to settle at $66.27 per barrel on the New York Mercantile Exchange. On Friday, the contract had peaked at $67.10 before settling at $66.86. Gasoline fell more than 4 cents to $1.9621 per gallon, while heating oil slid about 3 1/2 cents to $1.8692 per gallon. At London’s International Petroleum Exchange, September Brent futures were down 88 cents at $65.58 per barrel.


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