Oil prices finished down on Friday to lowest point in 3 months

Crude oil prices finished a lower week in trading on Friday, falling nearly 1% and posting their biggest weekly loss in three months.

Here’s what happened on Friday. Investors considered the latest US jobs data which was weak and were still wondering and hoping of the Federal Reserve might cut interest rates. With all indications showing the Fed will hold interest rates as they are, it will lead to higher and longer borrowing costs, plus curb any economic growth in the U.S.

West Texas Intermediate crude in the states dropped 84 cents or 1.06% to settle at $78.11 a barrel on the New York Mercantile Exchange.

Brent crude finished down 71 cents or 0.85% to $82.96 a barrel on ICE Futures Europe.

June natural gas rose 10 cents to $2.14 per 1,000 cubic feet.

Another day of mixed trading for Oklahoma energy stocks. While Coterra Energy gained 4% on Friday, Southwestern Energy dropped about 2%.