Oil prices fell on Monday, extending the previous session's decline, as the market mulled over gloomy U.S. economic data and the impact on demand should the world's top energy consumer slip into recession later this year.
U.S. light crude for February delivery eased 54 cents to $97.37 a barrel by 4:55 a.m. EST, extending Friday's $1.27 decline.
London Brent crude fell 12 cents to $96.67.
Oil has eased from a record peak of $100.09 a barrel last Thursday after a government report showed the U.S. unemployment rate up 5 percent in December, its highest in more than two years.
The bleak unemployment report was the latest signal that top energy consumer the United States could fall into a recession later this year.
U.S. light crude for February delivery eased 54 cents to $97.37 a barrel by 4:55 a.m. EST, extending Friday's $1.27 decline.
London Brent crude fell 12 cents to $96.67.
Oil has eased from a record peak of $100.09 a barrel last Thursday after a government report showed the U.S. unemployment rate up 5 percent in December, its highest in more than two years.
The bleak unemployment report was the latest signal that top energy consumer the United States could fall into a recession later this year.
