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Crude has dropped from $110 last month amid signs global crude supplies are outstripping demand. Rising crude output by Saudi Arabia, the world's largest producer, slowing Chinese economic growth and weak demand in developing countries "all continue to lean in favor of lower prices," energy trader and analyst Ritterbusch and Associates said in a report. In other energy trading, heating oil was down 3.3 cents to $3.15 per gallon and gasoline futures slid 3.4 cents to $3.31 per gallon. Natural gas fell 0.1 cent to $1.98 per 1,000 cubic feet.
[Associated
Press;
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