Business in brief

NATION

Oil prices jump above $70

NEW YORK — Oil prices broke through the $70 per-barrel barrier Friday and more forecasters are broadening expectations for an upward swing in crude.

Benchmark crude for July delivery lost 37 cents to settle at $68.44 on the New York Mercantile Exchange, finishing the week with a gain of nearly $2 a barrel. Earlier in the day oil jumped as high as $70.32 per barrel, the highest since October.

This week, Goldman Sachs revised its forecast and predicted that oil would rally to $85 a barrel by the end of the year as the economy stabilizes and OPEC production cuts take hold.

Mattel, Fisher-Price fined

WASHINGTON — Toy maker Mattel Inc. and its Fisher-Price subsidiary have agreed to pay a $2.3 million civil penalty for importing and selling toys with excessive levels of lead.

The penalty is part of a settlement the companies reached with the Consumer Product Safety Commission, which announced Friday that the toy maker had knowingly violated a 30-year-old federal ban on lead paint in toys.

The companies deny having willfully violated the ban.

Stock market ends week flat

NEW YORK — With unemployment still rising, investors are questioning if stocks should be, too.

Stocks ended a volatile day Friday little changed after the government reported a spike in the unemployment rate to 9.4 percent in May, the highest level in more than 25 years, even as the pace of layoffs eased more than expected.

The Dow Jones industrial average finished up almost 13 points at 8,763.13, just 14 points below where it started the year.

Associated Press