With dollar gaianing momentum against other currencies, oil fell after bad earnings data from Burlington Northern Santa Fe Corp. Tim Evans, an energy analyst with Citi Futures Perspective in New York, said: "The dollar is somewhat stronger and the S&P is down, both of which are sending oil lower. There’s also some fundamental news behind this move. The UK’s GDP numbers today were disappointing and suggest that the British economy is still in a recession.”
Crude oil for December delivery fell 69 cents to $80.50 a barrel.
Crude oil for December delivery fell 69 cents to $80.50 a barrel.
