Oil Dips to Below $97 a Barrel

Oil slipped below $97 a barrel in early trading Monday, continuing to hold in the mid-$90s per-barrel range it’s been in for the past month, Bloomberg reported.

Light sweet crude futures fell 41 cents to $96.83 a barrel in pre-market New York Mercantile Exchange trading, Bloomberg said.

Oil has not closed over $100 a barrel since June 9, according to Bloomberg Nymex records.

Brent crude oil, which is traded in London, fell more than $1 in Monday trading to $116.12 a barrel, Bloomberg said.

Nymex oil prices are 27% higher than a year ago, while Brent oil’s price is 54% over the same time last year, Bloomberg reported.

The Department of Energy will release its weekly survey of diesel and gasoline filling stations Monday afternoon in Washington.