Oil below US$60

Oil below US$60

World oil prices were mixed yesterday, after slipping under US$60 per barrel in New York trade on news of surging US stockpiles of winter heating fuel, dealers said.

New York’s main contract, light sweet crude for delivery in November, fell 28 cents to US$60,46 per barrel in electronic deals before the official opening of the US market. The October contract had expired on Wednesday after falling briefly to as low as US$59,80 – the lowest level since March 21.The October contract had expired on Wednesday after falling briefly to as low as US$59,80 – the lowest level since March 21.

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