NEW YORK (
) -- Following yet another day that found oil prices retreating, oil futures were beginning to move back up before the opening bell this morning.
Benchmark crude rose 63 cents this morning to come to $67.38 per barrel during electronic trading on the New York Mercantile Exchange. On Monday, the contract price settled at $66.75 after losing 76 cents on the day.
Though overseas markets were recovering on Tuesday morning, Monday found most of the oil majors pulling back along with the rest of the equities. Shares of
each slipped yesterday, shedding 2.4%, 2%, 3.2% and 3.5%, respectively, by the close.
Most of the servicers fared little better, with
each dropping 3.9%, 3.6%, and 4.7%.
-- Reported by Sung Moss in New York
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