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Oil prices closed at less than $47 a barrel on Tuesday as news that OPEC made only two-thirds of its pledged output cuts last month outweighed a rebound in the U.S. stock market. New York light sweet crude for January dropped $2.32 to close at $46.96, the first time the benchmark contract has settled below [...]

Tags: Oil Prices, OPEC

World prices for oil futures continued to fall. On the stock market price of oil fell another 6.3% and established by the end of the day below 70 U.S. $ / bbl.  In New York, at the official price of NYMEX futures Light, Sweet Crude Oil (November) fell 4 cents to $ 69 and settled [...]

Tags: NYMEX, Oil Prices, OPEC