Oil Takes Biggest Gain in Two Weeks, Topping $76 a Barrel
Oil rose by the most in two weeks Friday, gaining $1.31 to finish the week at $76.49 a barrel, Bloomberg reported.
The move came as the U.S. dollar fell 1.3% against the euro and a report earlier Friday on lower durable goods production that showed that some orders segments improved more than forecast, Bloomberg said.
The Standard & Poor’s 500 Index gained 2.1% Friday and the Dow Jones Industrial Average rose almost 200 points Friday to close the week at 10,860, Bloomberg reported.
Friday’s crude closing price on the New York Mercantile Exchange was the highest since Sept. 14.
The Department of Energy will release its weekly survey of diesel and gasoline pump prices Monday afternoon in Washington.
