The Orion Drilling Co.'s Perseus drilling rig stands near Encinal in Webb County, Texas, in 2012. Drilling in shale is more expensive than other methods and poses environmental challenges, but the prospect of a growing supply is encouraging analysts to predict greater energy independence for the United States. Illustrates OIL (category f) Asjylyn Loder (c) 2014, Bloomberg News. Moved: Saturday, Jan. 11 2014 (MUST CREDIT: Bloomberg News photo by Eddie Seal).
The Associated Press
Benchmark U.S. crude oil for July delivery fell 42 cents to settle at $37.96 a barrel Monday. Brent crude oil for August delivery fell 25 cents to $40.71 a barrel.
Wholesale gasoline for July delivery rose 1 cent to $1.22 a gallon. July heating oil was little changed at $1.18 a gallon. July natural gas rose 2 cents to $1.64 per 1,000 cubic feet.
Gold for August delivery fell 90 cents to $1,735.60 an ounce, silver for July delivery rose 12 cents to $17.77 an ounce and July copper rose 2 cents to $2.59 a pound.
The dollar slipped to 107.27 Japanese yen from 107.28 yen. The euro fell to $1.1218 from $1.1272.