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.