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Energy futures fall again as supply concerns weigh

November 1, 2013

NEW YORK (AP) — Crude oil and other energy futures are lower as traders continue to worry about high supply levels.

Oil for December delivery fell $1.77, or 2 percent, to $94.61 a barrel in New York.

Elevated supplies of oil have weighed on the market in recent weeks. The Energy Department said Wednesday that U.S. supplies increased 4.1 million barrels last week. Over five weeks, supplies have risen by more than 25 million barrels.

Metals prices were mostly lower. Gold for December delivery fell $10.50 to $1,313.20 an ounce. December silver fell three cents to $21.837 an ounce.

Crop prices were mixed. December wheat edged up a quarter of a cent to $6.6775 a bushel. December corn lost a penny to $4.2725 and January soybeans fell 14.75 cents to $12.515.