Oil is falling as fears ease that Gulf Coast refineries may be affected by flooding.
Benchmark oil for June delivery fell 89 cents to $98.76 a barrel in Monday morning trading on the New York Stock Exchange.
In London, Brent crude for June delivery fell 33 cents to $112.98 on the ICE Futures exchange.
Over the weekend the Army Corps of Engineers opened two massive gates at the Morganza spillway in an effort to protect Baton Rouge, La., and New Orleans from Mississippi River floodwaters.
Meanwhile, gas pump prices are beginning to fall with oil lower. The national average is $3.955 a gallon for regular. That's still nearly 14 cents more than a month ago but down about half a cent from a week ago.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.