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Oil falls to a 5-month low on supply worries

Published on NewsOK Modified: November 12, 2013 at 5:09 pm •  Published: November 12, 2013

The price of oil fell to a five-month low Tuesday as investors worried about higher U.S. supplies.

Gold, silver and copper prices fell. Crop prices were mixed.

Crude oil for December delivery fell $2.10, or 2.2 percent, to close at $93.04 a barrel in New York.

Oil prices fell as traders anticipate another increase in U.S. crude supplies for the week ending Nov. 8, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos. That would mark the eighth straight weekly increase.

In other energy trading, wholesale gasoline lost 1 cent to $2.59 a gallon, heating oil slipped 4 cents to $2.85 a gallon and natural gas advanced 4 cents to $3.62 per 1,000 cubic feet.

December gold fell $9.90 to $1,271.20 an ounce.

Silver for December delivery fell 50.4 cents to $20.778 an ounce, January platinum rose $7.20 to $1,439.60 an ounce and December palladium fell $12.20 to $752.35 an ounce. December high-grade copper fell 2.55 cents to $3.234 a pound.

In agricultural trading, corn for December delivery fell 2.5 cents to $4.3225 a bushel.

January soybeans rose 13.5 cents to $13.145 a bushel and December wheat fell a penny to $6.4525 a bushel.


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