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Oil Closes Week Below $75 a Barrel
Price Is Lowest This Year
Oil closed the trading week at a one-month low under $75 a barrel on demand-related concerns over economic growth, Bloomberg reported.
Crude futures fell $1.54 Friday to finish the trading week at $74.54 a barrel on the New York Mercantile Exchange, Bloomberg said.
Oil has fallen $8.64 since closing at $83.18 a barrel on Jan. 6, a 15-month high, and has fallen steadily since then.
Friday’s closing price was the lowest since Dec. 22 when oil closed at $74.40 on the Nymex, according to Bloomberg figures.
Diesel and gasoline pump prices dipped this week for the first time in a month in tandem with lower oil prices. The Department of Energy will release its next weekly price survey on Monday afternoon in Washington.
