Benchmark US crude oil for January delivery fell US$2.68 to US$74.25 a barrel Tuesday. Brent crude for February delivery fell US$3.33 to US$79.35 a barrel.

Wholesale gasoline for January delivery fell US$0.05 to US$2.15 a gallon. January heating oil fell US$0.08 cents to US$2.92 a gallon. January natural gas fell US$0.11 to US$5.47 per 1,000 cubic feet.

Gold for February delivery rose US$1.10 to US$1,782.40 an ounce. Silver for March delivery fell US$0.08 to US$22.34 an ounce, and March copper rose US$0.02 to US$3.82 per pound.

The dollar rose to ¥136.91 from ¥136.69. The euro fell to US$1.0464 from US$1.0493.

Meanwhile, stocks closed broadly lower on Wall Street Tuesday, extending the market’s recent string of losses as traders ponder the Federal Reserve’s next moves in its campaign to cool stubbornly hot inflation.

The S&P 500 fell 1.4 per cent, its fourth straight drop. The Dow Jones Industrial Average fell 1 per cent and the Nasdaq composite lost 2 per cent.

Technology stocks, communication companies, and retailers had some of the biggest losses. Apple fell 2.5 per cent, Disney slid 3.8 per cent, and AutoZone dropped 2.8 per cent.

Small company stocks also fell, pulling the Russell 2000 index 1.5 per cent lower. The major indexes are on pace for a weekly loss after posting two straight weekly gains.

Bond yields fell. The yield on the 10-year Treasury slid to 3.52 per cent from 3.58 per cent late Monday.