The slide continued this afternoon, a day after the price of crude actually settled in positive territory. Crude oil dipped further under $60 on Friday morning.
Light, sweet crude for delivery in August fell 78 cents to $59.63 a barrel on the New York Mercantile Exchange, but even dropped below $59 earlier. The contract picked up 27 cents late on Thursday to settle at $60.41.
On Friday, some eyes focused on a new demand forecast from the International Energy Agency. It showed a 1.4 million barrel a day uptick in oil demand in 2010. The 1.7% rise to 85.2 million barrels a day will be largely led by developing countries, the Paris-based energy policy adviser reported. Still, the group also expected no change in 2009 demand, which showed a 2.5 million barrel a day decline, or 2.9%. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,465.61 | 1,105.88 | 2,188.80 | 35.40 |
Oil *
71.78
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UP
59.78
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UP
3.53
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DOWN
2.06
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UP
0.58
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10 Yr
3.54%
SPDR Gold
109.40
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|
+0.57%
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+0.32%
|
-0.09%
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+1.67%
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