Oil futures declined on Friday, but U.S. prices notched a gain of nearly 9% for the month. “Oil was solidly on its path to $100, but the trio of inflation, rates and the Fed have come back from the dead and shaken up the confidence,” said Manish Raj, managing director at Velandera Energy Partners. If interest rates do hold higher for longer, then oil is “certainly” headed back to the $80s, he said. “For now, the only certainty in the market is volatility.” November West Texas Intermediate crude
CLX23,
declined by 92 cents, or 1%, to settle at $90.79 a barrel on the New York Mercantile Exchange. Prices based on front-month contract ended 0.8% higher for the week, gained 8.6% for the month, and were up 28.5% for the quarter. according to Dow Jones Market Data.
