The energy futures market ended the week...
The energy futures market ended the week on a sour note, with prices of crude oil and refined petroleum products retreating sharply. Trading was described as moderate. Analysts blamed the decline largely on technical factors and continued profit taking following a strong rally earlier in the week. On the New York Mercantile Exchange, the February contract for West Texas Intermediate, the benchmark grade of U.S. crude, closed down 42 cents to $18.86 a barrel, after rising 2 cents on Thursday. The contract, which was set to expire Friday, had reached a 14-month high on Wednesday after breaking the psychologically important $19-a-barrel level.
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