Crude oil plunged to its lowest level in three months at the close of trading Friday, a reflection of market volatility, which got investors worried about too many supplies
, according to reports by Dow Jones.
On the New York Mercantile Exchange, crude oil was at $71.61 a barrel, a drop of $2.79 a barrel, or 3.8 percent, Dow Jones says. Crude oil has not been this low since Feb. 5, the news service reported.
MarketWatch cited the boost in the dollar and concerns over Europe's debt crisis as factors in oil's hit Friday.
For the week, oil futures fell 4.6 percent, with losses in six of the last seven sessions, MarketWatch reports.
Friday, the Dow Jones Industrial Average was off 163.79 points at the close of trading, while the Nasdaq and the Standard & Poor's 500 lost 2 percent, the Associated Press reported.
Crude Oil Reaches Three-Month Low on Market Volatility
Crude oil plunged to its lowest level in three months at the close of trading Friday, a reflection of market volatility, which got investors worried about too many supplie
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