FXS: U.S. crude futures drop more than $1 after rally
NEW YORK, Oct 30 (Reuters) - U.S. crude futures fell more than a dollar on Thursday after weak third-quarter economic data helped pressure oil from an early high that tested resistance above $70 a barrel amid a weaker dollar and the impending OPEC production cut.
Crude futures retreated after U.S. GDP data showed a contraction in the third quarter, even though the contraction was not as bad as Wall Street expected, and the dollar bounced off its lows.
On the New York Mercantile Exchange at 10:05 a.m. EDT (1405 GMT), December crude was down $1.36, or 2.01 percent, at $66.14 a barrel, trading from $65.94 to $70.60.
(Reporting by Robert Gibbons) Keywords: ENERGY NYMEX/CRUDE
