Oil prices slide to one-month low as U.S. data feeds fuel demand worry - Reuters

Oil prices slide to one-month low as U.S. data feeds fuel demand worry - Reuters:

Oil prices tumbled on Thursday to their lowest point since early August as Wall Street sold off following U.S. unemployment data that fed fears of a slow recovery for the economy and fuel demand a day after weak U.S. gasoline demand data.

Brent crude LCOc1 fell $1.14, or 2.6%, to $43.29 a barrel by 11:21 EDT (1521 GMT). U.S. West Texas Intermediate (WTI) crude CLc1 futures were down $1.02, or 2.5%, at $40.49 a barrel.

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.

The Dow tumbled 700 points and the Nasdaq pulled back by nearly 5%.