The price of light, sweet crude oil for December delivery dropped $1 to settle under $61/bbl on the New York market Nov. 8 while Brent crude oil for January delivery dropped more than $1 to settle under $71/bbl. During Nov. 9 trading, Brent crude oil fell below $70/bbl for the first time in 7 months while US oil future prices fell below $60/bbl during intraday trading.

Source: News