SINGAPORE: Oil fell in Asia Monday as fears about the weak state of the US economy, the world’s biggest energy user, led traders to sell, analysts said.
New York’s main contract, light sweet crude for November delivery, eased six cents to 69.89 dollars a barrel. Brent North Sea crude for November delivery dropped eight cents to 67.99 dollars a barrel.
Data released Friday showed the US economy was struggling to recover from recession as job losses accelerated to 263,000, sending the unemployment rate to a 26-year high of 9.8 percent in September.
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