Oil prices slip below $61 a barrel

January 3, 2007 02:03

Oil prices slipped in quiet trading Tuesday, turning lower on warmer than usual winter weather in the United States and expectations of an agreement between Russia and Belarus over natural gas prices. In late electronic trading, light sweet crude for February delivery on the Nymex fell 16 cents to $60.89 a barrel. Heating oil fell 0.42 cent to $1.6440 per gallon, while natural gas futures were unchanged at $6.299 per 1,000 cubic feet. February Brent at London's ICE Futures exchange - which was open on Tuesday - dropped 42 cents to settle at $60.44 a barrel.

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