As the weekend weather in the Northeast continued to be milder, it wore out demand for home-heating fuels, causing oil prices to tumble by over one dollar. On Monday, light sweet crude futures settled at US$58.58 a barrel on the New York Mercantile Exchange. December Brent crude on London's ICE Futures exchange settled at US$59.05 a barrel. From a July high above US$78 a barrel, oil prices continue to trade in a range of US$57-61 over the past five weeks. Oil prices fell by over a dollar despite expectations of higher demand and OPEC production cuts.
14-Nov-06 
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