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Washington says a 30-day waiver is only for sanctioned Russian oil already loaded on vessels at sea.
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Economists had been expecting gross domestic product to add 0.2%.
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After surging about 10 percent on Thursday, oil prices had little reaction to the decision by President Trump to waive sanctions on the sale of some Russian crude.
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European stocks traded lower Friday as the conflict in the Middle East weighs over markets.
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The crash was not because of hostile or friendly fire, U.S. Central Command said. Four crew members died, it said, bringing the number of U.S. service members killed in the Iran conflict to at least 11.
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Armed police were sent to the scene and pictured as they entered classrooms.
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Seema Misra calls for accountability as a report by MPs raises concerns about ongoing delays.
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Former Defense Minister Benny Gantz tells NBC News' Richard Engel the military effort will "set the conditions" for the Iranian people to decide the country's future.
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Oil prices surged on Thursday after ships came under attack in the Persian Gulf, and Iran's supreme leader vowed revenge for U.S. and Israeli airstrikes.
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European stocks ended Thursday's session lower as investors monitor the Iran war and global oil prices.
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Trump, who promised to lower gas prices, is tapping the Strategic Petroleum Reserve as war drives prices up. And, the U.S. investigates the strike on an Iranian school that killed at least 165 people.
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Reserves or no reserves, the outlook remains bleak as long as a major oil and gas trade route remains virtually closed.
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