Oil prices are lower, extending a weeklong slump as traders worry about ample supplies and a rising dollar. Gold and silver futures are higher Friday, as are agricultural contracts. U.S. benchmark oil for February delivery fell $1.48 to close at $93.96 a barrel in New York.
The price has fallen 6.4 percent the past week. Oil closed above $100 last Friday for the first time since October. U.S. oil production is rising dramatically, and there is a chance that additional sources of crude may soon be available. In metals trading, February gold rose $13.40, or 1.1 percent, to $1,238.60 an ounce. Crop prices rose. Wheat increased 8.75 cents to $6.0575 a bushel, corn rose three cents to $4.235 a bushel and soybeans rose 1.25 cents to $12.7125 a bushel.