NEW YORK (CNNMoney.com) -- Oil prices ticked lower Friday amid volatile trading, as investors searched for clear signs that the global economic recovery will stick.
What prices are doing: Crude prices for May delivery fell 53 cents to settle at $80.00 a barrel.
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Oil prices have traded within a tight range over the past few weeks, struggling to hold gains amid uncertainty in Europe. After a volatile trading session Friday, prices finished the week down 2% from a high of $81.91. Prices are now 3.8% below a 2010 peak of roughly $83.18 a barrel.
What's moving the market: A mix of news gave investors little direction on Friday.
On the positive side, Europe inched closer to a solution for Greece's debt woes, helping to push the dollar down versus the euro. The dollar fell 1.01% against the euro to $1.340 on the day.
A weaker dollar makes crude oil, which is priced in the U.S. currency, cheaper for foreign investors. This tends to boost oil demand and prices.
But news from the U.S. Commerce Department early Friday that fourth quarter economic growth estimates were slightly lower than originally forecast put a damper on investors, who remain wary about the strength of the economic recovery and oil demand.
"We've got a lot of nervous traders out there," said Dan Flynn, an energy trader for PFG Best. "The oil markets can't find a direction at the given moment."
What analysts are saying: Instability in Europe will continue to haunt investors, who've been following the dollar's performance against the euro.
"The [oil] market needs to be fed good news," says Flynn, "and we're not getting the shot in the arm that would get bullish investors into the market."
Specifically, a lack of clarity surrounding Europe's bailout plan for Greece makes investors uneasy.
Flynn says that the Greek issue is a political football that could be tossed around for some time, keeping a lid on oil prices in the near team.
"We're really focused on the European crisis and the dollar," he said. "The thought is that a bailout for one country could result in a domino effect. This is a fear of many investors."
Looking ahead: Next week, investors will watch for weekly jobs and inventory reports, as well as the latest measurement from the Case-Shiller Index, which tracks real estate prices across the U.S. 
| 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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