Oil Gains $5 for Week, Topping $61 a Barrel
Oil closed the trading week near $62 a barrel — up more than $5 from last Friday — as the dollar fell to a four-month low against the euro, Bloomberg reported.
Crude futures rose 62 cents from Thursday’s closing price to finish the New York Mercantile Exchange trading day at $61.67 a barrel, Bloomberg said.
That’s an 8.2% higher for the week, or $5.33 higher than last Friday’s close. Oil futures have risen 38% this year, Bloomberg reported.
Prices hit a six-month Nymex closing high Wednesday of $62.04 a barrel.
Fuel consumption in the past four weeks dropped 7.6% from the same period a year ago, the Energy Department said earlier this week.