Crude Oil Prices Tick Lower

Crude oil prices were falling Friday as worries about the health of the U.S. and global economies continued to have traders questioning the strength of future demand for petroleum products.

Near-term oil futures were recently down 84 cents at $65.12 a barrel at the New York Mercantile Exchange. Brent crude was off $1.09 to $62.62.

Reformulated gasoline was losing 1 cent to $1.46 a gallon, and heating oil was fractionally weaker at $1.98 a gallon. Natural gas, however, edged up 4 cents to $6.47 per million British thermal units.

Among stocks, Chevron ( CVX) was off 1.4% at $73.16. Earlier, the company said its third-quarter earnings jumped to $7.9 billion from $3.7 billion in the same period a year earlier. Sales and operating revenue rose to $76.2 billion from $53.5 billion.

Exxon Mobil ( XOM) and Royal Dutch Shell ( RDS.A), both of which reported their quarterly numbers Thursday, were also trading to the downside.

The U.S. Oil ( USO) ETF, which tracks crude prices, was giving back 1.5% to $53.21.

This article was written by a staff member of TheStreet.com.

More from Commodities

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Gold to Skyrocket as Italian Rebellion Unfolds

Gold to Skyrocket as Italian Rebellion Unfolds