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Gas Prices Fall, Oil Bounces Back

Gas prices fell overnight to their lowest level since late May, while energy futures rebounded as investors kept a wary eye on equity markets, according to AP

A Commerce Department report showing the economy grew by 3.4 percent in the second quarter served to support oil prices, as did the weak dollar, which drove investors to commodities such as oil and gas as a safe haven.

Light, sweet crude for September delivery rose 79 cents to $75.74 a barrel on the New York Mercantile Exchange. The contract fell 93 cents on Thursday in sympathy with the stock market, analysts said.

Posted by   at 2:28 PM to Gas prices , Oil | Permalink

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