Oil Slips on Rumors About OPEC Meeting
Associated Press
NEW YORK —
Oil futures prices dropped sharply Friday after more than a week of gains, pushed down by rumors of a disruption in OPEC’s scheduled price committee meeting.
On the New York Mercantile Exchange, the November contract for West Texas Intermediate, the benchmark U.S. crude, fell 47 cents to settle at $14.18 a barrel after trading as high as $14.72 early in the day. Other contract months also declined.
Contracts for oil products also ended the day lower.
Wholesale unleaded gasoline for October delivery dropped 0.90 cent to close at 44.95 cents a gallon, while the October wholesale heating oil contract lost 0.83 cent to settle at 40.23 cents a gallon.
