Oil price closes back over $1.06

Traders pushed oil for October delivery up $1.39, or 1.4 percent, to close at $106.42 a barrel Friday on the New York Mercantile Exchange. Oil rose on reports of falling sales of new homes.

Analysts said the fall may assure the Federal Reserve tamps down interest rates. Low rates makes commodities an appealing alternative for speculators. Wichita, Kan.-based company, confirmed a report Thursday from the Daily Caller website saying that Koch Industries wouldn’t be buying any of Tribune’s daily newspapers after conducting a review.

The company, a closely held business controlled by the billionaire Republican donors Charles and David Koch, determined that acquiring the publications wasn’t economically viable, the website said. ceiling caught fire near the passenger-side sun visor. The probe covers about 146,000 of the sport-utility vehicles.