Oil Falls to Five-Month Low Thanks to Higher U.S. Supply
Obama must be furious that the EPA has allowed this to happen.
Check it out:
The price of oil fell to a five-month low Tuesday as investors worried about higher U.S. supplies.
Gold, silver and copper prices fell. Crop prices were mixed.
Crude oil for December delivery fell $2.10, or 2.2 percent, to close at $93.04 a barrel in New York.
Oil prices fell as traders anticipate another increase in U.S. crude supplies for the week ending Nov. 8, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos. That would mark the eighth straight weekly increase.
In other energy trading, wholesale gasoline lost 1 cent to $2.59 a gallon, heating oil slipped 4 cents to $2.85 a gallon and natural gas advanced 4 cents to $3.62 per 1,000 cubic feet.
December gold fell $9.90 to $1,271.20 an ounce.