Oil prices finished the week nearly unchanged after moving within a narrow range in some of the most subdued trading since the Persian Gulf crisis began in August.
Crude oil for March delivery fell 20 cents Friday to close at $21.34 a barrel. For the week, it stood 1 cent lower than last Friday's close of $21.35. Oil posted a high of $22.35 Wednesday and a low $20.80 on Tuesday."All of this week's (war) news has added up to nothing," said one trader.
Analysts said the oil market lacked features on Friday as traders concentrated on squaring their weekend positions in the absence of potentially market-moving news from the gulf war.