(NEW YORK) CNNMoney.com -- Oil prices reversed gains Friday as recovery concerns persisted, despite a report showing that the U.S. economy grew last quarter at its fastest pace in more than six years.
What prices are doing: Crude oil for March delivery fell 75 cents to settle at $73.64 a barrel Friday.
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| Click the chart to view other commodity prices. |
On Thursday, oil ended slightly lower at $73.64 a barrel as a selloff on Wall Street put traders on edge and the dollar strengthened.
What's driving prices: Early Friday, the government reported that the nation's gross domestic product -- the broadest measure of economic activity -- rose at a 5.7% annual rate in the fourth quarter.
That's significantly higher than the 4.7% rate analysts expected, and beat the 2.2% increase posted in the prior quarter. Stocks jumped on the news, boosting crude prices. But the gains were short-lived, and equities pared gains after the morning jump.
Crude prices fell as stocks drifted lower. Oil traders view the stock market as a leading indicator of economic growth and potential energy demand. As a result, oil prices have tended to fall in tandem with the major stock indexes.
What analysts are saying: "No matter what, people are looking for recovery to be a continuing trend," said Cameron Hanover analyst Peter Beutel. "[They] forget about GDP and will be look for additional numbers, asking, 'What's next?'"
He expects crude to trade in a range between $72.50 and $77.50 over the next week, though a continued cold weather snap could push prices slightly higher. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
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