NEW YORK -- Crude futures retreated Friday on the stronger U.S. dollars and latest development on Iraqi pipeline.
The dollar strengthened against the euro Friday, making oil and other commodities less appealing as a hedge against inflation.
In Iraq, a key oil export pipeline that was bombed Thursday was repaired Friday. The explosion had raised concerns on Iraqi exports and sent oil prices much higher.
Light, sweet crude for May delivery fell 1.96 dollars to 105.62 dollars a barrel Friday on the New York Mercantile Exchange.
The dollar strengthened against the euro Friday, making oil and other commodities less appealing as a hedge against inflation.
In Iraq, a key oil export pipeline that was bombed Thursday was repaired Friday. The explosion had raised concerns on Iraqi exports and sent oil prices much higher.
Light, sweet crude for May delivery fell 1.96 dollars to 105.62 dollars a barrel Friday on the New York Mercantile Exchange.
