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 Benchmark crude for June delivery was up 87 cents to $99.31 a barrel
in late afternoon Singapore time in electronic trading on the New
York Mercantile Exchange. The June contract, which expires later
Friday, fell $1.66 to settle at $98.44 on Thursday.
In London, Brent crude for July delivery was up 21 cents to $112.14
a barrel on the ICE Futures exchange.
The euro rose to $1.4338 on Friday from $1.4309 late Thursday while
the dollar dropped to 81.63 yen from 81.69 yen.
Crude has bounced around in the upper-$90s most of this week as
investors eye a volatile dollar and mixed signs about the strength
of the global economy and oil demand.
The International Energy Agency said Thursday that higher fuel costs
-- crude jumped to near $115 earlier this month from $84 in February
-- threaten to slow the global economic recovery. Japan said its
economy slipped into recession last quarter after gross domestic
product fell an annualized 2.3 percent in the January-to-March
period.
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 "The fundamentals for commodity prices are starting to weaken as the
world economy slows and supply recovers from recent shocks," Capital
Economics said in a report.
In other Nymex trading in June contracts, heating oil rose 1.7 cents
to $2.91 a gallon and gasoline dropped 0.8 cents to $2.92 a gallon.
Natural gas futures slid 0.5 cents to $4.09 per 1,000 cubic feet.
[Associated
Press; By ALEX KENNEDY]
Copyright 2011 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed.
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