Crude oil futures settled lower on Monday after a stricter mortgage policy introduced in China in an effort to curb soaring property prices gave investors cause for concern over energy demand.

The price fell 0.6% to $90.12 per barrel on NYMEX, hitting its lowest point since December 24th and sitting barely above the important $90 level.

Meanwhile, heating oil settled 0.38% lower at $2.92 per gallon, and unleaded gas dropped 0.97% to $3.10 per gallon.

Bucking the trend, natural gas rebounded 2.11% to $3.53 per million British thermal units, boosted by seasonally low temperatures.

In metals, gold made minimal gains, up just 0.01% at $1,572.40 per troy ounce, hit by the uncertainty surrounding Italy's political situation, weak data from China, and the start of sequestration in the US.

Copper rose by the same percentage, climbing to $3.50, while silver rose 0.02% to $28.50.

Platinum went the other way, down 0.46% to $1,566.20.

NR

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