Crude oil for January delivery was down 0.93% or 0.66 to $70.58 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.87% or 0.65 to hit $73.98 a barrel, while the February Gold Futures contract fell 1.70% or 46.65 to trade at $2,690.55 a troy ounce.