Crude oil prices gained 8 cents or 0.11% to settle at $71.77 per barrel on Friday, making a slight gain despite the dollar’s rise against the Euro.

On the week, oil prices jumped $1.82 per barrel or 2.60%; the fuel posted gains in the past two consecutive trading sessions.  Thursday, oil rose $2.12 per barrel or 3.05% to settle at $71.69, its highest settle since September 18. In the past two trading days, crude is up 3.16%.

Crude’s recent rally has been fueled largely by the dollar’s weakening against the Euro. The fuel, which is priced in dollars, becomes less expensive as the dollar’s value slides, driving global demand for the commodity.

Comments Federal Reserve Chairman Ben Bernanke made on Thursday raised the possibility that the Fed might raise interest rates, which fueled a jump in the dollar against the Euro on Friday. Still, energy traders clearly see a weaker dollar as the pervasive trend, causing oil to turn positive early Friday afternoon, and end the session higher.

“Normally I would think the crude oil market would drop down a bit [at this time of the year], but this year could be a bit different because of the dollar,” said Darin Newsome, senior analyst at Telvent DTN. “If the dollar collapses and loses another 20-30 points, it might keep some of these commodity prices higher.”

Shares of oil and gas companies Chevron (CVX), ConocoPhillips (COP) and ExxonMobil (XOM) were mixed Friday.

Other Fuels
RBOB gasoline fell 1.17 cents, or 0.66% on Friday to settle at $1.7680 per gallon. The fuel gained 2.71 cents per gallon this week, or 1.56%; in Thursday's trading, RBOB gasoline gained 3.45%.

Heating oil for November delivery gained 0.59 cents per gallon down, or 0.32%, to settle at $1.8528 per gallon, Friday afternoon on the New York Mercantile Exchange, its highest settle since August 28. The fuel gained 5.60 cents or 3.12% this week; Thursday heating oil posted gains of 6.58 cents per gallon or 3.69% per gallon.

Nymex natural gas fell 19.3 cents or 3.89% lower on Friday, to settle at $4.770 per million BTUs. This week, natural gas gained 5.2 cents or 1.10%, due to positive gains the past two consecutive trading days. Thursday’s settle of $4.963 per million BTUs came as the result of a gain of 5.90 cents or 1.20% during the session.

Metals
Gold for October delivery fell $7.60 on Friday, or 0.72% to settle at $1,047.80 pre troy ounce, after a record close on Thursday, of $1055.40.  Thursday, the metal rallied $12.10 per troy ounce, or 1.16%, and it has posted gains for the past five days straight. On the week, the metal rose $44.60 per troy ounce or 4.45%.

Silver fell 12.50 cents or 0.70% on Friday afternoon, settling at $17.675 per troy ounce.  The metal jumped on Thursday to a record close for 2009, up 32.20 cents or 1.84% to settle at $17.80 per troy ounce. On the week, silver gained $1.467 per troy ounce or 9.05%.

Copper fell 5.85 cents or 2.03% on Friday afternoon, settling at $2.8285 per pound.  On the week, the metal gained 15.70 cents per pound or 5.88%.