Oil Falls for First Time in Week
Oil fell for the first time in eight days Friday to below $92 a barrel, after topping out at a nine-week high on Thursday, Bloomberg reported.
Crude futures fell $1.22 to settle at $91.44 a barrel on the New York Mercantile Exchange, from Thursday’s $92.66 closing price, the highest since May.
Oil had risen for seven straight trading days prior to Friday’s decline, Bloomberg said.
The downturn was pegged in part to concern that European governments were not doing enough to contain their debt crisis, Bloomberg reported.
Diesel and gasoline prices have edged up in the past two weeks after falling steadily for three months.
The Department of Energy will release its weekly survey of filling stations Monday afternoon in Washington.
