Wall Street gave up early gains and closed mostly lower today after oil prices topped US$75 (€60.78) a barrel for the first time.

Stocks gained today, narrowing the week’s losses as the energy and basic materials sectors improved and Dow components Exxon Mobil Corp and Intel Corp climbed on upgrades.

US stocks ended a volatile session mixed today as late-day bargain-hunting erased most of the market’s earlier declines, helping the Dow Jones industrial average recover from a loss at one stage of more than 160 points.