Oil Falls on Concerns Over Housing, Economic Data
Oil fell almost $1 early Monday in advance of this week’s economic reports on housing indicators, Bloomberg reported.
Crude futures fell to $84.40 in pre-market New York Mercantile Exchange trading, Bloomberg said, on concerns that housing starts data, set to be released Tuesday, could turn lower.
Oil finished Friday on the Nymex at $85.38 a barrel, after earlier in the week closing below $80 for the first time since September.
The Department of Energy is scheduled to release its weekly survey of diesel and gasoline filling stations Monday afternoon in Washington.
