Oil edges lower as Syria threat fades; crops fall

Energy prices are falling as the likelihood of a U.S.-led strike on Syria seems to diminish.

Crop prices fell. Prices for metals were mixed.

Crude oil for October delivery fell $1.01 to close at $109.52 a barrel on Monday in New York.

Oil had been rising over the past two weeks as tensions mounted over Syria and President Barack Obama pressed the case for a military strike in response to Syria's alleged use of chemical weapons on civilians.

On Monday there was reason to hope for a possible diplomatic solution when Syria's foreign minister welcomed a suggestion floated by U.S. Secretary of State John Kerry to move all the country's chemical weapons under international control.

Gold edged up 20 cents to $1,386.70 an ounce.

Wheat, soybeans and corn all fell.

This story has been automatically published from the Associated Press wire which uses US spellings

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