MW: Crude-oil futures give up gains as dollar firms
By Lisa Twaronite, MarketWatch
TOKYO (MarketWatch) -- Crude-oil futures edged lower in Asian trading Friday, pressured by a stronger dollar.
August crude slipped 38 cents, or 0.6%, to $61.64 a barrel.
The U.S. dollar firmed against most major counterparts Friday. See Currencies.
A stronger dollar makes dollar-denominated crude oil more expensive for holders of other currencies and therefore often pressures crude prices.
On Thursday, August crude futures rose 51 cents, or 0.8%, to end at $62.05 a barrel on the New York Mercantile Exchange, the highest settlement since July 7.
Jobless claims in the U.S. fell last week to the lowest level in six months, and China's economy increased at a faster-than-expected pace in the second quarter. Crude also got a boost from gains in U.S. equity markets.
