Crude oil prices fall as the market awaits US crude oil inventory report

03-Dec-09

Crude oil prices dipped below US$77 per barrel as equity markets fell flat in New York Wednesday. Light, sweet crude prices settled at US$76.72 on the Nymex. Earlier in the day, oil fell as the market awaited the weekly crude inventory report from the United States. Oil prices rose by a dollar on Tuesday as a weaker US currency increased movement in commodities and on geopolitical tensions over Iran's nuclear program.