NEW YORK, N.Y. - An afternoon recovery in U.S. stock markets helped oil reverse early losses Thursday. Benchmark West Texas Intermediate crude for July delivery fell three cents to close at US$94.25 a barrel on the New York Mercantile Exchange. The price sank as low as $92.21 in the morning after weak manufacturing data from China raised questions about the strength of oil demand in the world's No. 2 economy.

OTTAWA - Statistics Canada says retail sales were flat in March, holding at $39.5 billion. It says after removing the effects of price changes, particularly lower gasoline prices, retail sales in volume terms rose 0.7 per cent. The agency says higher sales were reported in six of 11 subsectors, representing 47 per cent of total retail sales. The largest increase in sales was a 3.1 per cent rise at clothing and clothing accessories stores, while sales at motor vehicle and parts dealers rose 0.7 per cent for a third consecutive monthly gain.

NEW YORK, N.Y. - The price of oil fell near US$94 a barrel Wednesday as U.S. crude oil supplies fell less than expected and demand for gasoline remained weak. Benchmark crude for July delivery declined $1.90 to close at $94.28 a barrel on the New York Mercantile Exchange.

By Dmitry Zhdannikov and Peg Mackey LONDON (Reuters) - The European Commission is asking oil traders across the continent to provide evidence of market abuse to determine whether companies sought to manipulate prices reported to leading price-setting agency Platts.