NEW YORK (MarketWatch) -- Crude-oil futures fell Friday to below $81 a barrel, pressured by a rebounding dollar and lower stocks as investors digested the latest string of corporate earnings reports.
Crude for December delivery fell 86 cents, or 1.1%, to $80.33 a barrel on the New York Mercantile Exchange. The contract earlier rose to an intraday high of $81.78 a barrel.
Oil prices, as gauged by Nymex front-month contracts, is set to end the week up about 3%.
"The market's attention will likely shift back to earnings today," said Brian Niemiec, an analyst at Susquehanna Financial Group. Despite Friday's drop, "strong oil prices should remain."
Crude for December delivery fell 86 cents, or 1.1%, to $80.33 a barrel on the New York Mercantile Exchange. The contract earlier rose to an intraday high of $81.78 a barrel.
Oil prices, as gauged by Nymex front-month contracts, is set to end the week up about 3%.
"The market's attention will likely shift back to earnings today," said Brian Niemiec, an analyst at Susquehanna Financial Group. Despite Friday's drop, "strong oil prices should remain."
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