SAN FRANCISCO (MarketWatch) — Crude-oil futures traded 3% lower Thursday as Federal Reserve Chairman Ben Bernanke quashed hopes of further economic stimulus and a rising dollar trumped a positive string of U.S. macroeconomic data that had lifted prices by nearly 1% earlier.
Oil for August delivery declined $2.85 to trade at $95.20 a barrel on the New York Mercantile Exchange. It had moved as high as $97.27 a barrel earlier.
Full Story: Oil off 3%, moves toward 95% as dollar strengthens