The price of oil fell slightly Friday on the prospect of weak economic growth with no immediate assistance from the U.S Federal Reserve.
Oil ended the week at $84.10 per barrel, within $1 of its close last week. It remains near its lowest level since October of last year.
Higher oil production and weakness in economies around the world that are now burning less gasoline and other fuels have helped push down crude prices 14 percent in the last month and 25 percent from a high in February. Reports in recent days of weak job growth in the U.S., a deepening financial crisis in Spain and slowing growth in China have rattled markets. [ Read More ]
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