Oil was down in Asian trade today with analysts saying the market remains weighed by concerns over the health of the US economy and a debt crisis in the euro zone.
Markets were cautious ahead of the release by the US Labor Department of key employment data, with investors looking for indications of the health of the world's biggest economy and oil consumer.
The outlook however appears gloomy, with economists expecting the report to say unemployment is still jammed at a painfully high 9.1% in September.
New York's main contract, light sweet crude for November delivery was down two cents to $82.57 a barrel in volatile trade. Brent North Sea crude for November was down four cents to $105.69.
Analysts said that oil prices remain under pressure and are likely to continue to grind lower over the fourth quarter as the risk of North Atlantic recession weighs.
Crude prices had rallied for a second day in a row in New York yesterday after the European Central Bank announced measures to help cash-strapped banks in the euro zone under pressure from the public debt crises in Greece, Ireland and Portugal.
But the gains were short-lived as traders quickly sold for profit amid the shaky economic environment.
