Crude Closes At Five Month Low Friday

Crude oil for October delivery fell $1.66 to settle at $106.23 a barrel Friday, the lowest close since April 4. Oil has now dropped for six straight days, the longest stretch since April 30, 2007.

Dollar strength and rising US unemployment numbers were to blame traders say.

OPEC meet in Vienna on Sept 9th to discuss possible reductions in output in an effort to shore up prices threatening to break through $100/barrel.

Meanwhile Hurricane Hanna has posed no threat to US operations in the Gulf of Mexico, all eyes now turn to Cat 3 Hurricane Ike which may enter the region midweek.