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Tuesday, September 29, 2009

Oil Settles at $66.71 a Barrel

By Kathryn Elizabeth Tuggle

FOXBusiness

On the Nymex on Tuesday, light sweet crude for November delivery fell 13 cents per barrel, or 0.2%, to settle at $66.71. This month, oil is down by 4.7%.

Also on the Nymex, RBOB gasoline for October delivery dropped 0.99 cents per gallon, or 0.6%, to close at $1.6281, marking a decline of 18% for the month.

Meanwhile, heating oil and natural gas gained 0.97 cents per gallon, and 4.5 cents per million BTUs, respectively. Heating oil settled at $1.7006, while natural gas closed at $4.875.

At the pump, consumers can expect to pay $2.48 per gallon of regular unleaded, down from last month’s average of $2.60.

Chevron (CVX) closed at $70.91 for the day, after reaching as low as $70.78 during trading, while competitor Exxon Mobil (XOM) closed at $69.07 after hitting a low of $68.95 during the trading day.

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