Publish date:

Down Day for Oil Prices

Crude for December delivery falls $1.86 to $91.67.

Crude prices took a break from their recent ascent Tuesday, declining in New York after Goldman Sachs said it would advise taking profits.

Oil ended the last session at a record price above $93 a barrel, the latest in a string of new all-time highs. Recently, though, crude for December delivery was down $1.86 to $91.67.

At the same time, reformulated gasoline was losing 3 cents to $2.30 a gallon, and heating oil was weaker by 1 cent to $2.45 a gallon. Natural gas went against the trend and rose 12 cents to $8.09 per million British thermal units.

Stocks in the energy sector were sharply lower. The Philadelphia Stock Exchange Oil Service Sector Index was dropping 2.5%, and the Amex Oil Index was slumping 2.4%.

Oil-services firms


(HAL) - Get Report



(SLB) - Get Report

both lost more than 2%, as did refiner


TST Recommends

(VLO) - Get Report


Integrated majors


(COP) - Get Report


Exxon Mobil

(XOM) - Get Report

were down 1.7% and 1.9%, respectively, and


(CVX) - Get Report

gave back nearly 3%.