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10/1/2012 8:50:00 AM Write a Letter to the Editor Write a letter to the Editor

Oil Falls Below $92 a Barrel

Matthew Staver/Bloomberg News

Oil fell from its highest closing price in a week early Monday to below $92 a barrel as manufacturing levels fell in China, Bloomberg reported.

Crude futures fell almost $1 to as low as $91.26 a barrel on the New York Mercantile Exchange, down from the $92.19 closing price Friday that was the highest of the week.

An index gauging Chinese economic growth was below economists’ forecasts, Bloomberg said. 

The Institute for Supply Management reported Monday that U.S. manufacturing activity rose in September from three-month low, showing expansion.

Diesel and gasoline both fell for the first time in 12 weeks last week.

The Department of Energy will release its weekly survey of retail filling station pump prices for both fuels on Monday afternoon in Washington.

By Transport Topics

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