Traders await economic data, including jobless claims and consumer prices By Polya Lesova, MarketWatch FRANKFURT (MarketWatch) -- Oil futures dropped on Thursday, pressured by the U.S. dollar's rise against other major currencies and data showing a build in crude inventories. Crude oil for April delivery fell 34 cents, or 0.4%, to $82.59 a barrel in electronic trading on Globex. The strength of the U.S. dollar weighed on oil prices. The greenback gained against the euro following a report that Greece could seek help from the International Monetary Fund if the European Union is unwilling to provide aid. The dollar index (DXY 80.03, +0.39, +0.49%) , which measures the U.S. unit against a trade-weighted basket of six major currencies, rose to 79.953, from 79.734 late Wednesday. Energy traders are awaiting several economic reports Thursday. Data on weekly jobless claims and February consumer prices are due at 8:30 a.m. Eastern time, while the Philly Fed index for March and February leading indicators will be released at 10 a.m. Eastern time. Oil prices rose 1.5% on Wednesday, as the Organization of Petroleum Exporting Countries' decided to keep its production quota unchanged, as expected. Members of the cartel also reiterated commitments to their individually agreed production allocations, even though they have repeatedly broken such pledges. The cartel's current daily quota is 24.845 million barrels, but January compliance with that target was at 54.4%, according to a Platts survey. The U.S. Energy Information Administration reported Wednesday that crude inventories rose by 1 million barrels in the week ended March 12, while gasoline and distillate inventories declined.

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