Microscope
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Crude oil plunged on Friday amid energy demand concerns after a disappointing consumer sentiment report in the U.S. The drop took oil to its lowest closing level of the month.
Light sweet crude oil for September delivery declined to $67.51 per barrel, down $3.01 on the session. Prices touched below $67.12 per barrel. For the week, oil lost $3.06.
A Reuters and the University of Michigan report showed that the consumer sentiment index fell to a reading of 63.2 in August from a reading of 66.0 in July. The decrease surprised economists, who had been expecting the index to increase to 69.0.
Light sweet crude oil for September delivery declined to $67.51 per barrel, down $3.01 on the session. Prices touched below $67.12 per barrel. For the week, oil lost $3.06.
A Reuters and the University of Michigan report showed that the consumer sentiment index fell to a reading of 63.2 in August from a reading of 66.0 in July. The decrease surprised economists, who had been expecting the index to increase to 69.0.
