Oil prices slip Friday but rise $1 for the week
NEW YORK (AP) — The price of oil slipped below $95 a barrel Friday, but still finished the week with a gain of $1 a barrel.
Benchmark U.S. crude for January delivery fell 60 cents to close at $94.84 in trading in New York. The weekly increase from $93.84 a week ago was largely due to an improving U.S. jobs picture.
In other news, agricultural commodities were mixed. Corn fell less than a cent to $4.223 a bushel and wheat for March delivery rose 2 cents to $6.57 a bushel. Soybeans rose 28 cents to $13.195 a bushel.
In metals trading, December gold rose 50 cents to $1,244.10 an ounce. Silver for December delivery fell 7.2 cents to $19.862 an ounce. December copper rose 2.3 cents to $3.214 a pound.
January platinum fell $9 to $1,382.70 an ounce. December palladium rose 80 cents to $714.05 an ounce.
In other energy commodities, wholesale gasoline for January fell less than a penny to $2.71 gallon, heating oil rose 3.4 cents to $3.04 a gallon and January natural gas rose 7 cents to $3.81 per 1,000 cubic feet.