SINGAPORE (AP) — Oil slid below $98 a barrel today in Asia, bringing its fall over three trading days to about seven percent, as a slowdown in U.S. hiring and election results in Europe dimmed expectations of stronger economic growth.
Benchmark oil for June delivery was down 86 cents to $97.63 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract plunged $4.05 to settle at $98.49 in New York on Friday.
Crude has slumped from $110 in February amid signs oil demand may be weaker than previously expected.
