Investing.com - Crude oil futures fell on Friday as weaker-than-expected jobs numbers fueled sentiment the U.S. economy is cooling and will need less fuels to operate.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at USD84.65 a barrel on Friday, down 2.95%, off from a session high of USD87.09 and up from an earlier session low of USD84.27.
Earlier Friday, the U.S. Bureau of Labor Statistics reported the economy added a net 80,000 nonfarm payrolls in June, below market forecasts for a gain of around 90,000.
April figures were revised to 68,000 from 77,000 nonfarm payrolls, while May's numbers were revised to 77,000 from 69,000.
The news sent oil plummeting, as a stagnant economy cuts into demand for fuels and energy.
International Monetary Fund Managing Director Christine Lagarde, meanwhile, said the fund would likely cut its global growth forecasts, which also sent oil tanking.
On the ICE Futures Exchange, Brent oil futures for August delivery were down 2.03% and trading at USD98.64 a barrel, up USD13.99 from its U.S. counterpart.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at USD84.65 a barrel on Friday, down 2.95%, off from a session high of USD87.09 and up from an earlier session low of USD84.27.
Earlier Friday, the U.S. Bureau of Labor Statistics reported the economy added a net 80,000 nonfarm payrolls in June, below market forecasts for a gain of around 90,000.
April figures were revised to 68,000 from 77,000 nonfarm payrolls, while May's numbers were revised to 77,000 from 69,000.
The news sent oil plummeting, as a stagnant economy cuts into demand for fuels and energy.
International Monetary Fund Managing Director Christine Lagarde, meanwhile, said the fund would likely cut its global growth forecasts, which also sent oil tanking.
On the ICE Futures Exchange, Brent oil futures for August delivery were down 2.03% and trading at USD98.64 a barrel, up USD13.99 from its U.S. counterpart.