Oil prices end week’s trading session down eight percent

Both Brent and Light crude oil prices end the week’s trading session down around eight percent, broadly tracking global stock markets lower amid renewed double dip fears. US WTI Light crude oil futures ended at $72.14 a barrel on the NYMEX, while in London, Brent crude oil futures closed at $71.65 on the ICE Futures Exchange. The focus this week switched to the US, and a string of terrible data which prompted fears that recovery in the US is losing steam, and is about to lead the rest of the world into a double dip recession. Oil prices initially seesawed after the US Labor Department reported US nonfarm payrolls fell 125,000 in June, more than expected and the first 2010 decline. “With all the gloom and doom before the report you could say it wasn’t as bad as it could have been, but it’s probably not a positive for the economy and that’s the way the crude market is looking at it right now,” said Robert Yawger, senior vice president, energy futures at MF Global in New York. Friday’s oil price slump came after prices fell more than 3 percent on Thursday, its biggest one-day slide in nearly four weeks. Brent oil trading lower on continued euro debt concerns Oil prices in upward storm as nature whips the Gulf again Brent oil price trading lower, is double dip on it’s way? Brent oil prices trading near $80 as stock markets jump Crude oil prices trading steady in $77 to $80 range Oil prices trading at $71 mark, following stock markets Brent oil trading at $71 as commodities & markets wacked Oil prices again being lead by dollar and euro swings Oil prices start the week trading higher on US data US Light oil trading higher, near $82 on Goldman, markets Crude oil prices hit 2010 trading high on falling US dollar Crude oil prices gain as traders eye global stock markets Light oil prices end the week well above $80 trading range Oil prices trading steady, awaits US crude inventory data Oil prices trading down two percent on latest US jobs data Brent oil price heads back towards $70 on lower markets Brent oil trading under $75 as Europe markets head lower Brent oil price back at $75, Euro debt spooks the market Crude oil prices fall heavily, following stock markets lower Brent oil back under $78 in light trading, Euro battered

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Oil prices end week’s trading session down eight percent