After opening the day lower than Friday’s close, oil futures continued to lose ground with December contracts falling $1.84 (2.3 percent) to $78.66 a barrel by 1:30 on the New York Mercantile Exchange.
“This is a dollar play,” said Stephen Schork, president of consultant Schork Group Inc. in Villanova, Pennsylvania. “There is not a lot if rhyme or reason in this market at the moment. I see no justification for how far prices have risen.”
