Crude oil futures dropped more on Friday’s trading

 

They already had dropped to a 5-month low in trading this week, but crude oil futures took another slide downward on Friday.

West Texas Intermediate futures dropped 38 cents or 1.05% and settled at $35.79 per barrel on the New York Mercantile Exchange.

Brent Crude, in ICE futures trading slipped 19 cents or .50% and finished the day at $37.46.

While crude oil prices were falling, natural gas prices rose about 5 cents , going up 1.615 to reach $3.354 per MMBtu.

Meanwhile energy investors wait nervously to see what OPEC does as some OPEC members voiced reluctancy to extend the production cuts that were to be relaxed to about 2 million bpd starting in two months.

The United Arab Emirates, Kuwait and Iraq don’t support another extension of the cuts.

 

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