By Virginia M. Harrison
SYDNEY (MarketWatch) -- Oil futures declined in electronic trading Friday, snapping a three-day rally as the dollar strengthened. Light, sweet crude for July delivery CL1N -0.29% fell 31 cents, or 0.3%, to $101.59 a barrel on the New York Mercantile Exchange during Asian trading hours. Crude has settled higher for the past three sessions, with prices moving higher after the Organization of Petroleum Exporting Countries left output quotas unchanged and stoked concerns about supply. The dollar index DXY +0.25% , which measures the performance of the U.S. unit against a basket of six major currencies, rose to 74.359 from 74.111 late Friday. A stronger dollar can discourage investing in dollar-priced commodities including oil.
