A bigger than expected rise in U.S. gasoline stocks
and a fresh focus on global financial weakness pushed oil markets down
a dollar on Thursday to around $68 a barrel. For the next clue on the
economic health of the world's top energy consumer, traders were
looking to U.S. non-farm payroll data for release on Thursday, expected
to show unemployment at a 26-year high of 9.6 percent. "There's a sense
we're breaking to the down-side because of weak economic data ...
unemployment, house prices, lower stock markets," said Christopher Bellew of Bache Commodities. U.S. crude fell $1.08 to $68.23 a barrel by 0956 GMT (5:56 a.m. EDT).
The contract settled 58 cents lower at $69.31 on Wednesday. London Brent crude dropped by 92 cents to $67.87.