A broad-market slide over economic concerns couldn't halt crude's 5-session winning streak. Crude for October delivery added 40 cents in today's trading as investors tried to parse a weekly decline in crude and gasoline inventories, uncertainty ahead of a meeting of the Organization of Petroleum Exporting Countries, and the potential for a decline in energy demand after a disappointing payrolls report from the Labor Department. The October contract closed at $76.70 a barrel, bringing its week-over-week gain to $2.66, or 3.6%. Other petroleum-based commodities followed crude's lead higher. October reformulated gasoline rose 1.47 cents to finish at $1.9864 per gallon, while October heating oil gained fractions of a cent to settle at $2.1432 per gallon.
Meanwhile, those same economic concerns applied downward pressure to the U.S. dollar in today's trading, leaving traders to flee for the safe haven provided by gold futures. December-dated gold gained $5.10, or 0.7%, to end the week at $709.70 per ounce. The contract jumped as high as $716.50 in intraday action, marking its highest level since April 20. It's been a stellar week for the malleable yellow metal, as it finished this Friday 4.1% or $27.80 higher than its week-ago levels.