Oil Dips Below $100; Has Lowest Closing Price in Two Weeks

Crude oil fell below $100 a barrel in Thursday before rising back to close the trading day above $101, the lowest closing price in more than two weeks, Bloomberg reported.

Oil closed the trading day at $101.84 a barrel on the New York Mercantile Exchange after closing Wednesday at $104.48 a barrel, Bloomberg said.

Thursday’s Nymex closing price was the lowest since March 4, when it closed at $99.52. Intraday prices fell to as low as $98.65 a barrel, just two days after futures closed at $109.42.

Oil set a closing-price record of $110.33 a barrel last Thursday, and an intraday record of $111.80 on Monday, Bloomberg reported.