BREAKING NEWS

Oil falls below $100 on growth worries

By REUTERS

JUNE 1, 2012 17:53

LONDON - Oil fell to a 16-month low below $100 per barrel on Friday as weak US jobs data, poor manufacturing figures from China and a spiraling euro zone debt crisis deepened worries over the prospects for global economic growth.

Brent crude oil futures tumbled to their lowest since February 2011, down $4.17 to an intra-day low of $97.70, before edging up above $99 by 1400 GMT. The contract lost 14.7 percent in May, its biggest monthly decline since 2008.

US oil slipped to a low of $82.56, down $3.97, after losing more than 17 percent last month, also its biggest slide since 2008. It traded at below $84 at 1400 GMT.

Barrage of 20 rockets fired at Israel's north

By JERUSALEM POST STAFF

04/29/2024 10:18 AM

Gaza negotiations progressing but we remain prudent, says French FM

By REUTERS

04/29/2024 10:17 AM

IDF strikes Hezbollah infrastructure in southern Lebanon

By JERUSALEM POST STAFF

04/29/2024 08:23 AM

US military says it engaged five unmanned drones over Red Sea

By REUTERS

04/29/2024 04:59 AM