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Oil Takes Biggest Drop in 10 Weeks
Oil fell by the most in 10 weeks Friday, tumbling more than $2 to just over $83 a barrel as stocks declined, Bloomberg reported.
The U.S. Securities and Exchange Commission sued Goldman Sachs Group on Friday, prompting a downturn in stocks, Bloomberg said, with both equities and oil falling by the most since Feb. 4.
Crude futures fell $2.28 to finish the trading week at $83.23 a barrel on the New York Mercantile Exchange, after earlier touching an intraday low of $82.52.
Oil has fallen about 3.2% this week, the biggest decline since February, though prices have risen 67% in the past in the past year, Bloomberg reported.
Prices have surged in the past month, and in the past two weeks diesel has jumped 13 cents, to $3.069 a gallon, while gasoline has gained 6 cents to $2.858, according to the Department of Energy.
DOE will release its next weekly survey of filling station prices on Monday afternoon in Washington.
