Investing.com
0
All posts from Investing.com
Investing.com in Investing.com,

Oil prices fall on global oil glut fears, weaker U.S. jobs data

© Reuters. An oil pumpjack operates near Williston

SINGAPORE (Reuters) - Oil prices fell on Monday as concerns of global oversupply, a firmer dollar and lackluster U.S. nonfarm payroll data on Friday weighed on oil markets.

The long Labor Day holiday in the United States may also lead to thin trading later in the session.

"U.S. nonfarm payrolls turned out weaker than expected causing oil prices to fall on anticipations of a weaker economy," Singapore's Phillip Futures said in a Monday note.

Brent crude for October delivery (LCOc1) fell 25 cents to $49.36 a barrel as of 0419 GMT (12:19 a.m...


More