U.S. crude hits two-month low

Crude prices fell on Friday to a two-month low before the weekend amid lower demand on the commodity, specially as the dollar rose against a basket of major rivals. 

U.S. crude futures last traded at $44.54 a barrel, down from the opening price of $44.51, with an intraday high at $44.93, and a low at $44.34. 

Crude's decline comes after dithering this week as markets find themselves directionless over the future of global growth, and in turn demand on crude. 

The dollar rose against a basket of major currencies, weighing negatively on the greenback-denominated crude futures as they become more expensive to holders of other currencies. 

The dollar index, gauging the U.S. currency's performance against a basket of six major rivals, last traded at 97.10, compared to thee opening of 96.83, with an intraday high at 97.16, and a one-week trough at 96.81, as investors take refuge in U.S. treasury bonds, while the dollar draws support from recent upbeat data.