Oil Closes Week Near $115 a Barrel
Crude oil fell $5 to its lowest level in more than three months Friday, dropping briefly below $115 a barrel before rebounding slightly, Bloomberg reported.
Oil futures closed at $115.20 a barrel as the U.S. dollar gained the most since 2001 against the euro, and on speculation that slower global economic growth will cut demand, Bloomberg said.
Oil has declined about $30 since setting a closing-price record $145.18 on July 14, Bloomberg reported.
Diesel fuel and gasoline both have tumbled in the past few weeks from record highs, and the Department of Energy’s next price survey comes out on Monday.
