UPDATE 10-Oil falls 2.5 pct on Dubai default worries

* Oil prices fall 2.5 pct from Wednesday settlement

* Dubai debt delay revives financial crisis fears

* Dollar jumps as investors trim risk exposure (Recasts, updates with settlement price)

By Rebekah Kebede

NEW YORK, Nov 27 (Reuters) - Oil prices settled down more than 2 percent at about $76 a barrel on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.

U.S. crude for January delivery CLc1 fell $1.91 to $76.05 a barrel, 2.5 percent below Wednesday's settlement.

U.S. markets were closed on Thursday for the Thanksgiving holiday.

London Brent crude LCOc1 rose 19 cents to $77.18 from Thursday's settlement price.

Crude oil markets have looked to wider macro-economic data and equities markets for signs of an economic recovery that could lift oil demand.