Oil settles lower on Friday after fluctuating earlier, after a downgrade for Spain s debt brought back concerns about a potential European debt crisis weighing on oil demand.
Gasoline prices have tumbled almost every day this month, dropping Friday to a national average of $2.749 a gallon, according to auto club AAA, Wright Express and Oil Price Information Service.
Gold ekes out modest gains Friday as a debt ratings downgrade for Spain provided bullion with a last-minute boost.
New York spot gold prices were trading sideways Friday afternoon metal.
Gold prices in N.Y. were tentatively lower as investors opted for cash instead of gold headed into the long holiday weekend.
Motorists will catch a break at the gas pump as they head out for the Memorial Day weekend. Gasoline prices have tumbled almost every day this month, dropping Friday to a national average of $2.749 a gallon, according to auto club AAA, Wright Express and Oil Price Information Service.
Crude oil futures fluctuated Friday, as some investors judged the recent run-up is too fragile to last through the long weekend in the U.S. and cautiously stepped aside. Oil was most recently modestly higher at $74.91 a barrel.
As the BP oil spill dominates the headlines, investors should remember that other source of energy: natural gas.