Crude Oil loses 33% for the month

By Myra P. Saefong
Last update: 2:58 p.m. EDT Oct. 31, 2008
SAN FRANCISCO (MarketWatch) - Crude futures made a last minute turn higher Friday on the New York Mercantile Exchange. December crude finished at $67.81 per barrel, up $1.85, or 2.8%, after spending nearly all of the session trading lower. It finished 32.6% lower for the month, the biggest monthly loss on record. The move higher "looks like it started in the products," said Darin Newsom, a senior analyst at DTN. The market may have seen a "round of last minute end-of-the-month position squaring."

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