Oil fell from a three-and-a-half month high to below $98 a barrel early Monday on concerns over Italy’s debt and easing demand in China, Bloomberg reported.
Crude futures fell to as low as $97.88 a barrel after closing Friday at $98.99 a barrel, the highest New York Mercantile Exchange closing price since late July.
Oil had earlier risen to more than $99 a barrel in electronic pre-market Nymex trading, Bloomberg said.
Gasoline has declined for the past three weeks and diesel’s national average dipped half a cent last week for the first time in a month.
The Department of Energy will release its weekly survey of filling stations Monday afternoon in Washington.
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