Crude oil continued to decline on Friday on demand concerns and finished below $77 per barrel.
Light sweet crude for December dropped to $76.72, down 74 cents on the session. Prices hit as low as $76.20 after briefly challenging $78.
For the week, oil finished up 37 cents. Crude finished last Friday's session at a monthly low.
The dollar hit 2 1/2-week highs against the euro and sterling before easing back. A weaker dollar reduces oil's value as a hedge investment.
Meanwhile, Macquarie Group oil economist Jan Stuart said could fall to $60 per barrel in this quarter and the next one, according to reports. Speaking at a conference in Hong Kong, Stuart also said prices will average near $80 by the end of next year.
There was no major economic news on Friday. Next week's calendar is highlighted by the GDP report on Tuesday.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.