Surging Oil Leads To Lower Close

The markets closed modestly lower as crude oil prices surged above $72 a barrel to settle at $72.45 a barrel. The Dow lost 36 points to 11,345 while Nasdaq dropped 16 points to 2148. S&P 500 slipped 5 points to 1298. The 30-year bond inched up as the yield eased to 4.964%.