{"id":13756,"date":"2011-04-16T07:34:52","date_gmt":"2011-04-16T05:34:52","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/13756\/wti-crude-oil-price-ends-week-back-near-110-a-barrel\/"},"modified":"2011-04-16T07:34:52","modified_gmt":"2011-04-16T05:34:52","slug":"wti-crude-oil-price-ends-week-back-near-110-a-barrel","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/13756\/wti-crude-oil-price-ends-week-back-near-110-a-barrel\/","title":{"rendered":"WTI crude oil price ends week back near $110 a barrel"},"content":{"rendered":"

WTI oil prices ended the week back near $110 a barrel after the latest US economic data showed an increase in industrial production, easing fears that higher oil prices would slow US economic growth by raising costs for businesses.<\/p>\n

WTI Oil Futures \u2013 Closing Price<\/strong><\/p>\n

US Light crude oil futures for May 2011 delivery ended the week\u2019s trading session at $109.66 a barrel on the NYMEX, $3.13 a barrel lower than last week\u2019s closing price of $112.79.<\/p>\n

“It’s a combination of the data we’ve received and some short covering. Volatility is still there, and you don’t want to have a short position going into the weekend.” said Lind Waldock broker Rich Ilczyszyn.<\/p>\n

The sharp rise in oil prices so far this year had sparked a pullback in WTI oil futures this week, with traders and investors both concerned that the higher cost of oil would lower spending by businesses and push consumers to trim their budgets.<\/p>\n