MW: Oil futures turn higher, but remain below $100
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned higher late Thursday morning in New York, but remained below $100 a barrel as traders weighed concerns over a slowdown in global oil demand against support from upbeat U.S. economic data and a weaker dollar. June crude CLM11 -0.17% rose 53 cents to $98.74 a barrel on the New York Mercantile Exchange. It traded as low as $95.25 earlier. The "U.S. dollar index turned lower again," said Darin Newsom, a senior analyst at Telvent DTN. "Technical support [for oil] near $94 continues to hold."
