Commodities
Oil prices were up on Friday, but markets still suffered their third consecutive losing week as investors fear a banking crisis' impact on oil demand. Many prominent analyses echoed this negative sentiment around the U.S. economy and are similar to the rhetoric from Warren Buffet and Janet Yellen over the weekend.
- Brent crude rose by 3.9% on Friday but finished the week down 5.3%.
- U.S. West Texas Intermediate crude gained 4.1% on Friday but finished the week down 7.1%.
- U.S. oil rig count, which is a primary measure of future output, was down, showing that domestic deeply could be declining at the same time OPEC+ is implementing a production cut.
| Oil (NYSEARCA: OIL) | 27.39 | 3.61% |
| Gold (NYSEARCA: GLD) | 187.46 | -1.56% |
| Silver (NYSEARCA: SLV) | 23.57 | -1.55% |
| Corn (NYSEARCA: CORN) | 23.78 | 1.32% |
| Lumber (NASDAQ: WOOD) | 72.38 | 2.33% |
*Commodity prices are as of 7 a.m. ET. Data from MarketWatch. To understand why investors track the prices of these commodities,