Business | Oil & Gas

Oil falls more than $1 on weak US jobs data

Oil fell a dollar on Friday after an unexpected fall in US jobs data heightened fears of a recession in the United States, the world's top oil consumer.

  • Agencies
  • Published: 20:03 March 7, 2008
  • Gulf News

London: Oil fell a dollar on Friday after an unexpected fall in US jobs data heightened fears of a recession in the United States, the world's top oil consumer.

US light crude for April delivery was $1.30 lower at $104.17 a barrel at 1511 GMT. It had hit a new record high of $105.97 on Thursday.

London Brent crude was down 97 cents at $101.64.

Oil prices received support earlier from the falling dollar which slid to new record lows on Friday against the euro and the Swiss franc.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Oil & Gas

  1. Opec 2010 demand growth forecast edges up

  2. Taqa earnings soften on lower oil prices

  3. Reliance finds oil in western India

  4. Arbitration panel to settle Crescent-NIOC gas row

All articles in Oil & Gas

More from Business

Gulf News
Popular in Business
Way to go this DSF
XPRESS

Way to go this DSF

A fun-filled route to guide you to all the happening dos in town

Business Editor's choice