Crude Falls Below $63, Thursday, May 03, 2007 12:02:21 PM

Crude oil was down for the day in U.S. trading and dipped below $63 for the first time in two weeks. As noon ET, light sweet crude for June delivery was at $62.97, down 71 cents on the day.

Oil has been trending down for a little more than a week since climbing as high as $66.80. It got as low as $62.79 at 11:20 a.m. ET on Thursday.

Natural gas fell 5.6 cents to $7.674, heating oil dropped 1.14 cents to $1.8412 and gasoline was down 1.06 cents to $2.2222.

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