Crude settles lower as bearish factors erase November gains

摘要

New York-Crude oil futures settled lower Tuesday, giving back November’s gains, as several bearish factors weighed on the market. ICE January Brent settled down $1.53 at $60.91/b, while NYMEX December crude settled $1.84 lower at $55.21/b. It was the lowest NYMEX front-month contract settle since October 31 at $54.18/b. “We had a big sell-off. In one day, the sell-off erased all the month’s gains,” said Jim Ritterbusch, an independent analyst at Ritterbusch and Associates.