Friday, the investors chose to stay away from a variety of energy products of high risk ahead of the weekend, and remained vigilant on the uncertainty of the Outlook for the the eurozone debt issues. After several days’ losses, the crude oil price fell for the third consecutive day, despite the support by the gain of the U.S. stocks and the slide of the U.S. dollar index. The main oil contract settled at $ 93.53 a barrel.
The main crude oil contract in January New on York Mercantile Exchange fell 34 cents, or down 0.4%., to close at $ 93.53 a barrel. The main contract had been down for three days, Friday’s intraday high and low were $ 94.79 per barrel and $ 92.25 a barrel respectively.
Friday’s closing price of the main contract was the lowest in the recent six weeks, for a day gained out of four days fell this week, the price accumulatively dropped 5.9%.
Let’s focus ont the other energy products, the January reformulated gasoline price fell 1 cent Friday to close at $ 2.49 a gallon, down 0.1%. The January distillate fuel oil fell 2 cents to settle at $ 2.80 a gallon, down 0.8%. The two contracts had fallen by 4.3% and 3.8% respectively this week.