Oil prices declined as demand for durable goods slid for a second straight month. Crude-oil futures for September delivery declined to $75.90 a barrel.

The dollar was mostly lower Thursday, losing ground as the euro got a boost from unexpectedly strong PMI economic data.

Oil went below $77 a barrel Wednesday after a report showed U.S. crude supplies rose unexpectedly last week.

The dollar was uncertain versus other majors on Monday amid a quit day of fundamental data.

Oil futures turned lower Wednesday after the Department of Energy reported a surprise increase in crude-oil inventories.

Crude-oil futures fell 3% to trade below $76 a barrel on Tuesday, with under selling pressure global markets.

Oil reached above $74.50 per barrel on Thursday after news of a surge in Chinese exports in May and as the IEA revised up its estimate of global oil demand growth for this year.

Arising conflicting signals from the Middle East creates uncertainty about which direction oil prices will head seeing oil trades in large ranges.

Although the cost of drilling oil is rising, oil prices are currently falling! The futures contract closest to delivery on the New York Mercantile Exchange tumbled 13 percent in the past three months.

Initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 471,000 in the week ended May 15, the highest level since the week ended April 10, the Labour Department said on Thursday.