dow jones newswires

"There has been limited reporting on the extent and severity of the damage ... it's still a little bit unclear exactly how much damage was done"

Oil prices fell Friday after jumping more than $1 a barrel in the previous session as the bombing of a key Iraqi oil pipeline heightened supply concerns.

Thursday's bombing appeared to cut oil exports from the southern oil city of Basra, despite oil officials' statements to the contrary.

U.S. stocks headed for a lower opening on Friday after a weak manufacturing report stirred concerns of a further economic slowdown.

The New York Federal Reserve said its Empire State Manufacturing Survey indicated that conditions have deteriorated this month.

The reading fell nearly 21 points to negative 11.7 _ the first negative reading since May 2005. Analysts had forecast a decline of 6.5 percent for the February number, according to Dow Jones Newswires.