Price of Crude Oil Falls at Christmas Break

Crude prices fell on Monday in light trading after hitting its 26-month high last week.

Last week, unexpected drop of U.S. crude oil inventories, positive economic data combined with cold weather drove oil price to its peak since October 2008.

But on the first day after Christmas break, oil dipped as a snowstorm that blanketed U.S. East Coast decreased further the already light trading volume on the New York Mercantile.

And the market worried about the demand in short terms after China raised its interest rate by 25 basis points on Sunday.

Light, sweet crude for February delivery fell 51 cents to 91.00 U.S. dollars a barrel on the New York Mercantile.

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