U.S. crude settles lower on concerns about growth
NEW YORK, March 26 |
NEW YORK, March 26 (Reuters) - U.S. crude oil futures settled lower a third consecutive day on Friday as mixed U.S. economic data offset the stronger euro that was strengthened after actions taken to help debt-laden Greece.
The U.S. fourth quarter economic growth rate was revised lower on Friday, offsetting the usually bearish effect of the dollar's weakening against the euro.
The sinking of a South Korean naval ship had some oil trading sources worried about conflict that could hurt demand in the region expected to fuel oil demand growth.
On the New York Mercantile Exchange, May CLK0 crude was fell 53 cents, or 0.66 percent, to settle at $80 a barrel, trading from $79.54 to $81.46. (Reporting by Robert Gibbons)
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