Oil futures climbed to a new record near $143 a barrel Friday as the dollar weakened against the euro, confirming expectations that the falling greenback, a major factor in crude's stratospheric rise, will extend its decline and add to oil's appeal. ¶ Retail gas prices inched lower overnight, but are likely to resume their own trek into record territory now that oil futures have broken out of the trading range where they had been for nearly three weeks. ¶ Light, sweet crude for August delivery hit $142.99 a barrel on the New York Mercantile Exchange before pulling back in late-day profit-taking to settle up 57 cents at a record $140.21.
More from Business
Congress sent President Barack Obama a three-month bill to keep highway and transit money flowing to states on Thursday, one day before the deadline for a cutoff of funds.
TV & Media
Facebook says it will begin test flights later this year of a solar-powered drone with the wingspan of a Boeing 737, the next stage of its campaign to deliver Internet service to remote parts of the world.
Monthly premiums for Minnesota's health care program for the working poor are increasing in August.
Water use in California fell by 27 percent in June, passing the conservation target set by Gov. Jerry Brown during the drought, regulators said Thursday.
Congress passed a bill Wednesday to shore up federal aid for highway and transit programs and fill a budget hole in veterans' health care.