Oil Slips but Remains Near $98 a Barrel

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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Heartland's 3Q Income Slips

Tom Biery/Trans Pixs

Heartland Express said its third-quarter profit slipped to $15.4 million, or 17 cents per share, from $18.3 million, or 20 cents, a year ago.

Revenue rose 4.2% to $132.5 million, including a 46.2% jump in fuel surcharges, the truckload carrier said late Tuesday.

The company said it took delivery of 196 International ProStar Plus trucks in the quarter and said it expects to buy 329 new trucks by the end of the year.

It said it took delivery of 715 new Great Dane and Wabash trailers in the quarter, that it s sold 866 trailers in the quarter and has sold a total of 2,453 trailers in the first nine months of this year.

Heartland’s founder, Russell Gerdin, passed away earlier this month at the age of 70. His CEO duties were transferred to his son Michael in September.

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