Crude oil futures slip lower ahead of U.S. data.
Crude oil futures slipped lower on Friday, as markets were jittery ahead of the release of key U.S. employment reports later in the day, as earlier data painted a bleak picture of the strength of the country’s economic recovery. On the New York Mercantile Exchange, light sweet crude futures for delivery in May traded at USD93.06 a barrel during European morning trade, down 0.21%. Jobless claims for the preceding week rose by an unrevised 357,000. Earlier in the week, a report showed that ADP nonfarm payrolls increased by a seasonally adjusted 158,000 in March, well below expectations for an increase of 200,000, following an upwardly revised gain of 237,000 the previous month. Separately, the Institute of Supply Management said its non-manufacturing purchasing manager’s index fell to 54.4 from a reading of 56.0 in February, expanding at the slowest pace in five months. The U.S. is the world’s biggest oil-consuming country, responsible for almost 22% of global oil demand.