Oil falls below $62 a barrel

New York -- New York crude oil prices fell below $62 a barrel Monday in the sixth consecutive daily drop on rising U.S. crude inventories and refinery use.

Light, sweet crude for June delivery lost 19 cents to $61.74 in mid-morning trading on the New York Mercantile Exchange.

June natural gas shed 9 cents to $7.848 per 1,000 cubic feet. June heating oil slipped 1.62 cents to $1.8147 a gallon.

Reformulated gasoline blendstock for oxygen blending fell 1.89 cents to $2.1975 a gallon.

AAA said Monday the average U.S. retail regular unleaded gasoline price was $3.034 a gallon, up 0.7 cent from Sunday's $3.027 a gallon.

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