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US economy worries knock oil prices

Oil prices - US jobs data latest blow
Oil prices - US jobs data latest blow

Oil prices slipped this evening after figures showed that the US unemployment rate in May rose to 9.1% from 9% in April.

US crude lost 81 cents to $99.59 a barrel, while Brent crude gave up 54 cents to $115.

The US Labor Department's jobs report was the latest in a series of gloomy economic data this week. The US is the world's largest oil consumer.

On Thursday, the country's Energy Information Administration said wholesale petrol demand dropped for the 10th week in a row.

Oil fell today despite a drop in the dollar. Oil, which is priced in US currency, usually rises when the dollar falls and makes crude cheaper for investors holding foreign currency. But indications that the economic recovery may be slowing are making oil investors anxious, analysts say.