The Market Turned Sharply To &Nbsp; Oil Prices Fell 0.4% To 85.38 Dollars On Friday.

On Friday, crude oil prices continued after two consecutive trading days. Gain It continued to rise in early trading, followed by an unfavorable consumer confidence index that triggered market concerns about the economic outlook, and oil prices began to narrow. The main oil contract was quoted at $85.38 a barrel.

New York commodity exchange In September, the main crude oil contract fell 34 cents on Friday, closing at $85.38 a barrel, or 0.4%. Oil prices have fallen by 1% this week.

Earlier Friday, US economic data included a 0.5% increase in retail sales in July, slightly higher than market expectations; data in May and June were also revised upwards; data helped oil prices get rid of the impact of bad consumer confidence: the Reuters and University of Michigan consumer confidence index reported that the index was at 54.9 in early August, far below the 63.2 level widely expected by economists and the lowest level since May 1980.

Massachusetts consulting firm energy and Economics Michael Lynch, a research strategy strategist, said that as the weekend approached, investors began to cut crude oil positions. "Bad data on consumer confidence didn't have much impact. Everyone is still holding on to this idea: during the weekend, it is better to avoid it." Crude oil prices fell 1% this week, a week before the fall of 9.2%.

Stimulated by favorable employment data, crude oil prices rose 2.83 U.S. dollars on Thursday, closing at $85.72 a barrel, the highest closing price in nearly a week. Data showed that the number of initial jobless claims fell to less than 400 thousand last week, the first time since early April.

Other energy products were mixed: in September, formula gasoline fell 1 cents, closing at 2.82 dollars per gallon, down 0.2%, down 0.3% this week, and distillate fuel oil rose less than 1 cents in September, at 2.90 dollars per gallon, up 0.2%, down 1.4% in a week.

In September, the gas contract fell 5 cents to $1 million. Quantity of heat The unit was $4.06, or 1.2%; the previous trading day before the contract was lower than the expected growth of the market, and the inflation rate rose by 2.6%, helping the gas price rise to 3% a week.