Oil Closes Week Below $70

Oil topped $70 Friday before falling to close the trading week at more than $68 a barrel on the New York Mercantile Exchange, Bloomberg reported.

Crude futures closed at $68.45 on the Nymex, Bloomberg said, after earlier rising past $70 in following a report showing that the number of jobs that were cut in May fell compared with April.

The rollback was due in part to the U.S. dollar strengthening against the euro and yen, Bloomberg said.

Oil prices this week reached their highest level in seven months, since early November.