Oil Falls on Concerns of Weaker Demand Forecasts, Slowing U.S. Economy

OIL PRICE - TOKYO. Oil prices fell in Asia on Thursday, with investors turning cautious on expectations of lower demand as U.S. employment and business data came in weaker than forecast, signalling the economy of the world's top oil consumer may be cooling.

Brent crude futures LCOc1 were down 48 cents, or 0.55%, at $86.86 a barrel, while U.S. West Texas Intermediate (WTI) crude futures CLc1 fell 51 cents, or 0.62%, to $83.36 by 0342 GMT, with activity thinned by the U.S. Independence Day holiday.