After their biggest drop since mid-November in recent days, oil prices in Monday’s trading slipped ever so slightly in the U.S. but plunged more than $1 a barrel in Europe.
West Texas Intermediate crude finished the day at $57.42 a barrel, a drop of 5-cents or 0.09% for January 2018 futures on the New York Mercantile Exchange.
Brent Crude in London fell $1.28 to reach $62.45 a barrel in trading for February 2018 crude. That’s a more than 2% drop.
Natural gas declined less than one percent in trading on the NYMEX, finishing trading on Monday at $2.98 MMbtu.
The trading results came as Bloomberg News reported crude stockpiles at Cushing dropped 2.4 million barrels in the week that ended Dec. 1