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U.S. stocks closed lower Monday, relinquishing earlier gains on lower-than-average volume, as oil futures rallied and the dollar traded lower against most of its rivals. Gold futures headed lower Thursday for a second straight session, as strength in the U.S. dollar and some upbeat economic data helped push prices down for the week.
BP CFO made a strong statement about oil prices. "I think maybe the price is getting a little bit ahead of the fundamentals," Mr. Gilvary said. "When it comes down to about $28, that is probably now the bottom for this year. We could easily see the price coming off from where it is at the moment," he added.