Dhaka, Bangladesh (BBN)– U.S. crude oil prices rose for a third straight day on Friday as equities bounced, but failed to hold gains on Monday as investors’ unease about a stalled economic recovery weighed on equities and the energy markets.
Crude oil dropped on Wednesday to US$ 71.52 per barrel but NYMEX West Texas Intermediate crude was trading at $ 73.56 per barrel at the end of the week, according to reports.
Gold prices rose on Friday after Federal Reserve Chief Ben Bernanke said the Fed was ready to act on growth if needed.
Gold prices in the week rose above $1,250 an ounce for the first time since late June as concerns over the pace of U.S. economic growth prompted buying of the metal, before easing somewhat at the end of the week.
BBN/SI/AD-04Sept10-12:13 pm (BST)