Oil Dips at $109 Amid U.S. Budget Impasse

Reuters reported that as U.S. budget talks stall, the price of crude oil has also fallen to $109 per barrel Friday.

As quoted in the market news:

“Brent dropped $1.05 to a low of $109.15 before recovering slightly to trade around $109.35 by 1045 GMT. Brent was on track for a second weekly rise and was up just under 2 percent for 2012 as a whole, having averaged around $111.70, not far above its 2011 average of $110.91.”

Click here to read to full Reuters report.