Oil Slips From 14-Month High to Near $102
Oil fell from a 14-month high to near $102 a barrel Monday after finishing at more than $103 last week, Bloomberg News reported.
Crude futures slipped 90 cents to $102.32 a barrel on the New York Mercantile Exchange after finishing last week at $103.22, the highest closing price since May 2012.
Gasoline futures fluctuated, and analysts told Bloomberg that a weekend freight rail accident and explosion in Quebec could disrupt East Coast fuel shipments to and from Irving Oil Corp.’s 300,000-barrel-a-day refinery in New Brunswick, Canada.
Diesel’s pump price has slid 7.3 cents in six straight declines, while gasoline has dropped almost 16 cents in three straight downturns, according to U.S. Department of Energy figures.
DOE will release its weekly survey of diesel and gasoline pump prices Monday afternoon.
