Oil Slides $2 to Below $68 a Barrel
Oil prices slid $2 in weekend trading to below $68 early Monday after topping $70 last week for the first time since November, Bloomberg reported.
Crude futures fell to $67.43 in electronic weekend trading, down from Friday’s New York Mercantile Exchange closing price of $68.44, after the U.S. dollar rose against the Japanese yen, Bloomberg said.
Oil could average $65 a barrel by the end of the year, according to an analyst with JPMorgan Chase & Co., Bloomberg said.
The Energy Department releases its weekly diesel and gasoline retail price survey Monday afternoon and will release its monthly short-term energy outlook on Tuesday.