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U.S. crude oil futures settled below $100 a barrel on Thursday, the lowest close since mid-March, in a heavy sell-off across commodities markets sparked by slowing economic growth and signs of tighter monetary policies.
On the New York Mercantile Exchange, U.S. light, sweet crude [CLCV1 99.52
-9.72 (-8.9%)] settled down $9.44, or 8.64%, at $99.80 a barrel. That marked the lowest settlement since March 16. It earlier fell to a session low of $99.66, down $9.58, or 8.77 percent, and the lowest since March 17's intraday low of $96.60.
Front-month crude futures have fallen in four straight days, racking up losses of $14.13, or 12.40 percent, the biggest percentage loss since May 7, 2010 when prices fell 12.86 percent.
In London, Brent crude for June [LCOCV1 109.53 -11.66 (-9.62%) 
] last traded near $111 a barrel. It dropped earlier to the a session low of $110.72 a barrel, down $10.47, or 8.64 percent and marking the lowest since March 17's intraday low of $109.45.
Bearish signals came from data in both Europe and the United States Thursday, adding to economic concerns that have battered commodities markets all week. German industrial orders fell unexpectedly in March while U.S. weekly jobless claims hit eight-month highs.
The disruption of oil exports from Libya, concerns about the supply impact of unrest in the Middle East and Africa, and the weaker dollar have sent crude this year to the highest level since 2008, with Brent topping $127 a barrel and U.S. crude over $114 a barrel.
This won't make the greedy Jews at the NYMEX and the hedge funds happy.
On the New York Mercantile Exchange, U.S. light, sweet crude [CLCV1 99.52
-9.72 (-8.9%)] settled down $9.44, or 8.64%, at $99.80 a barrel. That marked the lowest settlement since March 16. It earlier fell to a session low of $99.66, down $9.58, or 8.77 percent, and the lowest since March 17's intraday low of $96.60. Front-month crude futures have fallen in four straight days, racking up losses of $14.13, or 12.40 percent, the biggest percentage loss since May 7, 2010 when prices fell 12.86 percent.
In London, Brent crude for June [LCOCV1 109.53
-11.66 (-9.62%) ] last traded near $111 a barrel. It dropped earlier to the a session low of $110.72 a barrel, down $10.47, or 8.64 percent and marking the lowest since March 17's intraday low of $109.45. Bearish signals came from data in both Europe and the United States Thursday, adding to economic concerns that have battered commodities markets all week. German industrial orders fell unexpectedly in March while U.S. weekly jobless claims hit eight-month highs.
The disruption of oil exports from Libya, concerns about the supply impact of unrest in the Middle East and Africa, and the weaker dollar have sent crude this year to the highest level since 2008, with Brent topping $127 a barrel and U.S. crude over $114 a barrel.
This won't make the greedy Jews at the NYMEX and the hedge funds happy.
