Oil prices continue to slide as U.S. data feeds fuel demand worry - Reuters:
Oil prices settled lower on Thursday, at one point touching their lowest since early August as U.S. unemployment data fed fears of a slow recovery for the economy and fuel demand a day after weak U.S. gasoline demand data.
Brent crude LCOc1 settled down 36 cents, or 0.8%, to $44.07 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures were down 14 cents, or 0.3%, at $41.37 a barrel.
Both benchmarks fell more than 2% earlier in the session.
U.S. stock prices sank as investors sold high-flying tech stocks and worried about economic recovery after Labor Department data showed the number of Americans filing new claims for unemployment reached a seasonally adjusted 881,000 for the latest week. Continuing claims remained high, with millions out of work.
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