Crude oil prices lower in light trade

Crude oil prices were down on Tuesday as mild weather continued in the northeast United States, cooling demand for heating oil. Brent crude was 46 cents lower to $60.40 per barrel, while West Texas Intermediate crude was down 39 cents to $60.66 per barrel. Meanwhile, the price of heating oil was 1.1 cents lower to $1.6370 per gallon. Trade was light due to the closure of the New York Mercantile Exchange to all but electronic trading as Tuesday was declared a national day of mourning in honor of former President Gerald Ford, who died last week.