Oil futures settle down, NYMEX crude below $50/b

摘要

New York—The oil futures complex closed lower Tuesday, with NYMEX crude settling below $50/b for the first time since April 2009. NYMEX February crude closed down $2.11 at $47.93/b. The prompt contract ranged between $47.55/b and $49.46/b in New York trading. ICE February Brent settled $2.01 lower at $51.10/b, lowest front-month settle since April 2009. NYMEX refined products were unable to hold onto early gains. Prompt ULSD settled 2.30 cents lower at $1.7262/gal. February RBOB closed down 2.71 cents at $1.3543/gal. The strength of the US dollar added to the selling pressure on oil stemming from oversupply concerns.