Oil gives up gains after US GDP lags estimates Jan 27 10:33 AM US/Eastern NEW YORK (AP) - Oil prices are flat with a report showed the U.S. economy grew at a slightly slower than expected pace in the fourth quarter. The Commerce Department said Friday that the economy grew at a modest 2.8 percent in the final three months of last year. While that is the fastest growth in 2011, economists expected 3 percent growth. Benchmark crude for March delivery was down 5 cents at $99.65 in early trading on the New York Mercantile Exchange. The price had risen above $100 a barrel earlier as the market continues to await the outcome of gamesmanship between Iran and Western nations. Brent crude for March delivery rose 55 cents to $111.40 on the ICE Futures Exchange in London.