Oil Prices Slipped in Monday’s Trading

Oil prices ended lower on Monday as the market gave back some of the gains made last week in trading.

The price for one barrel of West Texas Intermediate crude, as set at the Cushing hub was $66.29 for May contracts. It was a drop of $1.10 per barrel in trading on the New York Mercantile Exchange.

Brent crude on London’s ICE futures Europe exchange fell the same amount before settling at $71.48 per barrel for the day on June contracts.

Natural gas on the NYMEX climbed 2 cents to hit $2.75 Mmbtu.

Why the slip in oil prices?  Analysts say it’s because of fading worries that Russia might have retaliated over the weekend U.S. airstrikes on Syria.

 

 

 

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