Oil prices fell a third straight day on Friday, tumbling to a six-week low and logging a second consecutive losing week as dismal economic data and bulging U.S. oil inventories kept investors worried about the economy and the outlook for oil demand. Concerns about the economy also revived risk aversion, strengthening the dollar and pressuring the euro, according to Reuters. U.S. crude for September fell 97 cents, or 1.3 percent, to settle at $73.46 a barrel as the contract expired and went off the board. Front-month crude prices fell as low as $73.19 intraday, the lowest since July 7. For the week, crude futures lost $1.93, or 2.56 percent. The new front-month October crude contract fell 95 cents, or 1.27 percent, to settle at $73.82 a barrel. The front-month ICE October Brent contract fell $1.04 to settle at $74.26. "(T)here were no surprises in today's trade as bullish speculative positions continue to be unwound amid a big contraction in economic optimism," Jim Ritterbusch, president at Ritterbusch & Associates, said in a research note.
