•Crude futures lost more than $1/b on Friday, following another volatile session the previous day that ended in an impressive late rally driven by bullish US economic indicators and ongoing Nigerian supply worries, sources said.

•"I think people are taking a breather this morning after what has been a very volatile week. Even yesterday we traded in a $6/b range on not that much fundamental news," a London-based broker said.

•The US dollar index on ICE rallied to a high of 74.241 on Friday, the highest since the end of February, on better-than-expected US retail sales data. The market will be on the lookout for the US consumer price index for May, out later today, sources said.

•"We suspect we will be closing on a firmer note today, as we doubt participants would want to head home net short going into the weekend. If there is going to be a correction coming, it will most likely have to wait until next week. However, corrections--no matter how steep they seem to be--are not necessarily a sign of a market top, as the events of the last two weeks have illustrated, which is why we are still on the lookout for an intraday reversal," MF Global analyst Ed Meir said in a report Friday.

Updated: June 13, 2008