Chevron Corporation (CVX), Exxon Mobil Corporation (XOM): Oil Falls Most Since November on Fed Comments

Still, Ritterbusch and most others don’t expect a free-fall in the price of oil. He said fears of an escalation of the civil war in Syria should support oil around the $94 level.

Brent crude, a benchmark for many international oil varieties, was down $3.97, or 3.7 percent, to end at $102.94 per barrel on the ICE Futures exchange in London.

In other energy futures trading on the Nymex:

• Wholesale gasoline was down 10.5 cents, or 3.6 percent, to finish at $2.79 a gallon.
• Heating oil fell 10 cents, or 3.4 percent, to end at $2.87 per gallon.
• Natural gas retreated by 9 cents, or 2.2 percent, to finish at $3.88 per 1,000 cubic feet.

The article Oil Falls Most Since November on Fed Comments originally appeared on Fool.com is written by Associated Press.

The Motley Fool recommends Chevron.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.