Oil Falls for Sixth Time in Seven Days
Oil declined for the sixth time in seven days Thursday, falling 33 cents to $85.51 a barrel, Bloomberg reported.
Crude futures had jumped $1.79 on Wednesday to finish the trading day at $85.84 a barrel on the New York Mercantile Exchange, putting the price near the $85.88 it closed at on April 7 when the recent downturns began.
Oil prices jumped to more than $80 a barrel in early March and have since then held in the low to mid-$80s, according to Bloomberg records.
Diesel and gasoline have increased in tandem with the gains, rising in the past two weeks to over $3 and $2.80 per gallon, respectively — their highest levels since the fuels were coming off their record highs in late 2008.
The Department of Energy will release its next weekly price survey on Monday afternoon in Washington.
