Oil Falls Below $66 a Barrel
Oil prices fell more than $1 to a two-week low of less than $66 a barrel Monday, Bloomberg reported.
Crude futures fell $1.57 to $65.94 a barrel in early trading on the New York Mercantile Exchange, Bloomberg said.
Weather forecasters were watching two named tropical storms near the Gulf of Mexico and Hurricane Bill further out in the Atlantic, but the systems were not expected to affect U.S. oil production in the gulf, news services reported.
Diesel and gasoline prices last week jumped 7.5 and 9 cents, respectively, in the Department of Energy’s weekly price survey. DOE’s new survey will be released Monday afternoon in Washington.
