Oil cools down
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Oil and petroleum futures fell on Tuesday (October 2), after the dollar put up a good show against foreign currencies.

Analysts believed that oil`s September rally to record levels above USD 83 a barrel was credited partly to the speculative buying by investors taking advantage of the weak dollar.

Also, it is said that investors are feeling that oil prices have hit their highs for the year and the fall in prices is a result of some profit booking.

Light, sweet crude for November delivery fell 19 cents, on Tuesday to settle at USD 80.05 a barrel on the New York Mercantile Exchange (NYMEX) after falling more than USD 1.00 earlier.

November gasoline inched up 0.15 cents, to settle at USD 1.9828 a gallon on the NYMEX, while heating oil futures fell 1.84 cents, to settle at USD 2.1623 a gallon.

In London, November Brent crude fell 26 cents, to settle at USD 77.38 a barrel on the ICE Futures exchange.

Meanwhile, November natural gas rose 37.7 cents, to settle at USD 7.427 per 1,000 cubic feet.

At the pump, Gas prices fell 0.2 cents, overnight to a national average price of USD 2.788 a gallon