U.S. oil prices prices were well off early highs on Friday after data showed U.S. home sales plunged in April, adding to uncertainty about sputtering economic recovery.
On the New York Mercantile Exchange, U.S. Light Sweet Crude Oil futures for July delivery was up $0.36 to $100.59 a barrel.
Industry data showed pending sales of existing U.S. homes fell more than expected in April to hit a seven-month low, dashing hopes for a recovery in the vital housing market.
In a report, National Association of Realtors said that pending home sales fell a seasonally adjusted 11.6 percent, after rising 5.1 percent in the preceding month.
Analysts had expected pending home sales to fall 1.0 percent last month.
Adding pressure to crude futures, OPEC oil output was expected to have increased this month due to extra oil from Saudi Arabia, Nigeria and Iraq.
Crude prices are expected to stay above $100.00 ahead of the Memorial Day extended weekend, which also marks the start of the U.S. summer driving season. Gasoline demand in the world's biggest oil consumer is expected to pick up as many Americans take to the road for their holidays.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.