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