U.S. crude oil futures slipped on Friday as concerns about economic recovery, demand and the dollar's strength against the euro pressured crude oil. Lower oil demand forecasts arriving this week from OPEC, the International Energy Agency and U.S. Energy Information Administration have helped temper optimism about economic and oil demand recovery in the near term. "Crude and products futures are lower on light volume overnight as some profit-taking is seen after prompt NYMEX gasoline futures yesterday reached the highest level since October," said Addison Armstrong, analyst at Tradition Energy in Stamford, Connecticut. The approach of the U.S. summer driving season and a big drop in gasoline inventories in government data released on Wednesday have oil markets eyeing RBOB gasoline futures' recent strength as a potential driver for the market. "Despite some financially related selling in the oil overnight, we will continue to view the gasoline futures as a key driver of crude value during the upcoming one- to two-week period," Jim Ritterbusch, president at Ritterbusch & Associates, said in a note. Thursday had the NYMEX June crude oil options and London Brent June contract expiration. The NYMEX June crude contract expires next Tuesday. PRICES * On the New York Mercantile Exchange at 9:30 a.m. EDT (1330 GMT), June crude CLM9 was down 91 cents, or 1.55 percent, at $57.71 a barrel, trading from $57.31 to $58.88. * In London, front-month July Brent crude LCON9 fell $1.06, or 1.81 percent, at $57.53 a barrel, trading from $57.10 to $58.91. * NYMEX June RBOB RBM9 fell 1.21 cents, or 0.7 percent, at $1.7116 a gallon, trading from $1.6875 to $1.7262. Thursday's settlement of $1.7237 was highest close since $1.7822 on Oct. 15. Thursday's $1.7290 intraday peak was the highest since prices hit $1.75 on Oct. 21. * NYMEX June heating oil HOM9 fell 2.94 cents, or 1.97 percent, to $1.4653 a gallon, trading from $1.4538 to $1.4972. * The June/June RBOB crack spread <0#RB-CL=R> was at $14.15, after ending at $13.78 on Thursday. The June/June heating oil crack spread <0#CL-HO=R> was at $3.74, after ending at $4.16 on Thursday. * The spread between the current front month and the five-year forward crude contract CLc61 was at $18.05, based on the June 2014 contract settlement on Thursday at $75.76. The spread ended at $17.14 on Thursday. MARKET NEWS * World equities rose but European stocks weakened, while dreadful European economic data hit the euro. [MKTS/GLOB] * U.S. consumer prices were unchanged in April as expected, but recorded their largest 12-month drop since 1955, government data showed on Friday. [ID:nN13408473] * The dollar strengthened against the euro and other currencies seen as higher risk. [USD/] * The euro zone economy as a whole contracted by a bigger-than-expected 2.5 percent during the first three months of the year. [ID:nLF50071] * Kuwait's oil minister said there was no need for further output cuts by OPEC as he does not want to see oil prices go up too fast and a scrapped deal with Dow Chemical (DOW.N) would not be revived. [ID:nLF217325] * China's power consumption decline accelerated in the first 10 days of May to 4.3 percent year-on-year, from a drop of 3.6 percent in the final 10 days of April, the official Shanghai Securities News reported on Friday.

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