Oil Prices at All-Time High

Oil prices came up to USD 77 per barrel, nearing an record high on July 27, on buying supported by news of faster-than-expected economic development.

But, retail gas prices fell to their lowest level since late May.

Light, sweet crude for September delivery climbed up USD 2.07 to USD 77.02 per barrel on the NYMEX.

The gasoline rates for next month delivery grew 2.58 cents to USD 2.1017 per gallon after decreasing earlier. Gasoline futures finished the week 6.26 cents, lower by 2.9%.

On the NYMEX trading on Friday, heating oil futures appended 4.03 cents to USD 2.0731 per gallon, and natural gas futures climbed 16.7 cents to USD 6.11 a 1,000 cubic feet.

In London, September Brent crude benefited USD 1.08 to USD 76.26 each barrel on Friday on the ICE Futures exchange.

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