NEW YORK -- Crude futures slipped below $50 per barrel Tuesday as the United States decided who would be president for the next four years.
The New York Mercantile Exchange remained soft due to mild autumn weather and anticipation that Wednesday's weekly inventory reports would show satisfactiry supplies of fuel for the winter.
The market rallied briefly during the day on reports that an Iraqi oil pipeline in Kirkuk had been bombed.
The final numbers saw December crude slump 51 cents to $49.62 per barrel, the lowest settlement price in about a month.
December NYMEX heating oil remained soft, slipping 1.5 cents to $1.392 per gallon as weather in the Northeast remained mild. Gasoline was slightly lower at around $1.29 per gallon.
Natural gas was fairly steady at $8.57 per million British Thermal Units.
