Commodity Corner: Oil Ends Week Lower

Light, sweet crude posted a slight loss Friday, pressured by yesterday's bearish stock sell-off, as well as a series of negative economic data.

Oil futures ended the week 12 cents lower, settling at $82.26 a barrel Friday and down 3.7 percent for the week. Oil prices traded as low as $79.17 after an earlier intraday peak of $83.55, which was caused by an early rise in the stock market.

Crude gained some support Friday from a weaker dollar. The Dollar Index, which measures the dollar against a basket of major foreign currencies, traded at 74.002 from 74.216. The greenback reached a new post-World War II low against the Japanese yen.

Meanwhile, the September Brent contract price settled $1.63 higher at $108.62 a barrel. The intraday range for Brent was $106.43 to $109.30 a barrel.

Natural gas for September delivery gained nearly 5 cents, or 1.2 percent, to settle at $3.94 per thousand cubic feet. Natural gas fluctuated between $3.90 and $3.97 for the last trading session of the week.

Front-month gasoline advanced 5.80 cents to finish at $2.84 a gallon Friday. RBOB rose for a second straight week.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager - 11639
Expertise: Project Management
Location: Clear Lake City, TX
Process Safety and Risk Engineer IV
Expertise: Process Control|Risk Management
Location: Anchorage, AK
Project Manager - Well Intervention - 11846
Expertise: Project Management|Well Intervention
Location: Houston, TX
search for more jobs

Brent Crude Oil : $45.54/BBL 0.70%
Light Crude Oil : $43.01/BBL 0.63%
Natural Gas : $2.929/MMBtu 1.34%
Updated in last 24 hours