Monday, November 18, 2013
NEW YORK (AP) — Oil prices are falling ahead of the resumption of negotiations in Geneva meant to curb Iran's nuclear program.
Benchmark U.S. crude for December delivery fell 81 cents to $93.03 a barrel on the New York Mercantile Exchange. Wholesale gasoline was flat at $2.66 per gallon, while natural gas dropped 4 cents to $3.62 per 1,000 cubic feet and heating oil was down 2 cents to $2.92 a gallon.
The U.S., Britain, France, Russia, China and Germany are offering to gradually roll back sanctions on Iran. That has raised concerns that Iranian oil could flood world markets, which already have abundant supplies.
Metals prices dropped, while beans and grains were mixed.