Oil Prices Drop as Crude Oil and Gasoline Futures Fall
The benchmark U.S. crude oil for January delivery experienced a significant drop of $2.71, closing at $68.61 per barrel on Tuesday. Similarly, Brent crude for February delivery fell $2.79 to $73.24 per barrel.
Decline in Wholesale Gasoline and Heating Oil Prices
Wholesale gasoline prices for January delivery also saw a decline, dropping by 6 cents to $1.98 per gallon. Additionally, January heating oil prices fell by 10 cents, reaching $2.51 per gallon.
Decrease in Natural Gas Prices
January natural gas prices experienced a notable decrease as well, falling by 12 cents to $2.31 per 1,000 cubic feet.
Gold and Silver Prices Experience Minor Fluctuations
Gold for February delivery saw a slight decrease of 50 cents, closing at $1,993.20 per ounce. Silver for March delivery also experienced a minor decline of 4 cents, reaching $23.02 per ounce. On the other hand, March copper rose by 1 cent to $3.79 per pound.
Foreign Exchange Rates
The dollar weakened against the Japanese yen, falling to 145.60 yen from 146.18 Japanese yen. Conversely, the euro strengthened against the dollar, rising to $1.0791 from $1.0762.
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