Oil Holds Near $85 a Barrel
Oil rose over $85 a barrel in early trading Monday, after taking its biggest drop in two weeks on Friday, Bloomberg reported.
Crude futures rose 76 cents to $85.21 on the New York Mercantile Exchange, after falling $2.77 Friday to close the week at $84.45, Bloomberg said.
Oil has held mostly in the $80s for the past month and fell below $80 in late June, closing at an eight-month Nymex low of $77.69 per barrel on June 28.
Diesel and gasoline pump prices have declined steadily for the past three months along with falling oil prices, to about $3.65 and $3.35 per gallon, respectively.
The Department of Energy will release its weekly survey of filling stations Monday afternoon in Washington.
