Update 10: Oil Prices Fall Despite Heating Oil Fears
11.11.2004, 07:45 AM
Oil futures prices fell Thursday as markets digested news of a rise in
crude inventories but lower-than-expected U.S. heating oil stocks. A
Nigerian high court also banned a planned general strike that would have
targeted oil exports - a situation that had been worrying traders.
Crude for December delivery was down 60 cents to $48.26 per barrel in
electronic trading by early afternoon in Europe in advance of the opening
on the New York Mercantile Exchange. Heating oil also fell to $1.3925 per
gallon while natural gas was down at $7.575.