Oil Prices Retreat but Up for Week
July 20, 2007
U.S. crude oil retreated from its 11-month high of $76 a barrel Friday to close 35 cents lower at $75.57 on the New York Mercantile Exchange.
It was enough, however, to keep crude prices ahead by more than 2 percent for the week.
Natural gas was down 26 cents to close at $6.446 per million British thermal units.
Heating oil was down 2.21 cents at $2.0922 a gallon and reformulated gas was off 2 cents at $2.1646 a gallon.
Meanwhile, the average price at the pump for regular unleaded gasoline dropped to almost $3 even at $3.004 a gallon, down from Thursday’s $3.020, the AAA Fuel Gauge Report said.