(MENAFN- ProactiveInvestors)
In energy trading oil slipped further into the red Friday as a U.S. stronger dollar balanced worries over the impact of fighting in Libya and Iraq on Middle East and North African oil production.
West Texas Intermediate futures settled more than 2% lower at $49.61 a barrel on the New York Mercantile Exchange.
The U.S. dollar hit an 11-½-year high against a basket of currencies after strong U.S. jobs data boosted expectations of a sooner-than-expected interest rate rise in the world's largest economy.
U.S. employment accelerated in February and the jobless rate fell to 5.5% signs that could encourage the Federal Reserve to raise interest rates in June.
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