Oil Falls Below $85 a Barrel
Oil fell almost 50 cents Friday to close the trading day below $85 a barrel for the first time this week, Bloomberg reported.
Crude futures fell 47 cents to finish the trading week at $84.92 a barrel on the New York Mercantile Exchange, Bloomberg said.
It was the lowest closing price this week, as oil closed at more than $86 on Monday and Tuesday and over $85 Wednesday and Thursday.
Gasoline futures also declined Friday, slipping more than 2 cents a gallon on the Nymex on speculation that refiners will boost capacity, Bloomberg said.
Diesel prices jumped 7.6 cents to top $3 a gallon for the first time in 17 months, while gas gained 2.8 cents to $2.826, the Department of Energy reported Monday.
DOE is scheduled to release its next weekly pump price survey on Monday afternoon in Washington.
