Down $0.21 or 0.44%

The front crude oil contract is now the January contract and it settled at $$48.03 today. That was down $0.21 or -0.44%. The low extended to $47.17. The high traded as high as $49.96.

The market activity was volatile as OPEC production worries continue to dominate. There was an initial push higher on the back that OPEC members had solved internal disputes but then fell back down on worries Iraq and Iran were not likely to freeze production.