Oil Finishes Week at 2012 Low
Oil fell almost $1 a barrel Friday, finishing the week at $96.13, its lowest closing price this year, Bloomberg reported.
The 95-cent decline followed a report that Chinese manufacturing rose by the lowest level since 2009, Bloomberg said.
Friday’s New York Mercantile Exchange closing price was the lowest since Dec. 19.
Crude futures have plunged more than $10 since May 1 on the Nymex, when they were at a five-week high $106.16.
Diesel and gasoline prices have followed crude’s decline with drops in the past month, though diesel still tops $4 at the pump.
The Department of Energy will release its next weekly survey of filling stations Monday afternoon in Washington.
