MW: Crude oil futures dip further after new home sales
By Nick Godt
NEW YORK (MarketWatch) -- Crude-oil futures lost more ground on Wednesday after a report that showed U.S. new home sales unexpectedly fell 3.6% in September. Crude oil for December delivery, down 53 cents ahead of the data, was down 95 cents, or 1.2%, at $78.60 a barrel on the New York Mercantile Exchange. The decline in new-home sales to a seasonally adjusted annual rate of 402,000 was well below the 438,000 pace expected by economists surveyed by MarketWatch.
