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
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.
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