RTRS: U.S. crude futures retreat $3 on demand concerns
NEW YORK (Reuters) - U.S. crude futures fell more than $3 on Thursday as weak third-quarter economic data rekindled concerns about oil demand being curbed.
The dollar's bounce off its low helped crude futures retreat after U.S. GDP data showed a contraction in the third quarter, even though the contraction was not as bad as Wall Street had expected.
On the New York Mercantile Exchange at 11:56 a.m. EDT, December crude was down $3.15, or 4.6 percent, at $64.35 a barrel, trading from $64.17 to $70.60.
