Crude oil futures fell on Monday in electronic trading, with normal US floor trading closed for Martin Luther King Day.

Crude oil for February delivery declined 9 cents, in thin trading, to $95.47 a barrel in electronic trading on the New York Mercantile Exchange.

With news headlines thin on the ground, focus turned to Monday's meeting of Eurozone finance ministers in Brussels to discuss the region's debt problems. French Finance Minister Pierre Moscovici said ministers are expected to agree on a new President of the Eurogroup.

Focus also remained on the US budget and plans to raise the debt ceiling.

On London's ICE futures exchange the March Brent contract traded 39 cents lower at $111.48.

Among precious metals gold turned 0.2% higher on Monday in lighter than usual holiday trading in the US.

Gold for February advanced $2.70 to $1,689.7 an ounce on the Comex in New York.



CJ

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