Crude oil for November delivery was down 4.25% or 3.14 to $70.69 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 4.14% or 3.21 to hit $74.25 a barrel, while the December Gold Futures contract rose 0.22% or 5.90 to trade at $2,671.50 a troy ounce.