Oil prices were lower again today closing down week over week as the market worried about interest rate hikes and their effect on the global economy. “There seems to be a growing ‘risk back off’ type of trade now in crude, triggered by the interest rate rises in the EU and disappointing stimulus numbers out of China,” said Dennis Kissler, senior vice president of trading at BOK Financial. U.S. business activity also fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, survey data showed. WTI traded down .35 or -.5% to close at $69.16. Brent traded down $.29 or -.4% to close at $73.85.