Investing.com - Investing.com - Crude oil prices fell in early Asia on Friday as investors looked ahead to latest the U.S. jobs report which could bolster the dollar further.
On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $91.29 a barrel, down 0.15%, after hitting an overnight session low of $88.20 a barrel and a high of $91.00 a barrel.
Overnight, crude futures came off earlier lows after data revealed fewer in the U.S. sought first-time joblessness assistance last week, a sign the economy continues to recover and will demand more fuel and oil going forward.
Separately, on the ICE Futures Exchange in London, Brent oil futures for November delivery fell Thursday to $93.42 a barrel, the lowest since June 2012.
The U.S. Labor Department reported earlier that the number of individuals filing for initial jobless benefits in the week ending Sept. 27 decreased by 8,000 to 287,000 from the previous week's revised total of 295,000.
Analysts had expected jobless claims to rise by 2,000 to 297,000 last week, and while the numbers brought oil up from earlier lows, the commodity remained in negative territory due to ongoing concerns that global supply far exceeds demand.
Investors were now looking ahead to Friday's U.S. nonfarm payrolls report, which was expected to show that the economy about 215,000 jobs in September.
On Wednesday, the U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories decreased by 1.4 million barrels in the week ending Sept. 26, confounding expectations for a gain of 0.7 million barrels, though global supply concerns ending the buying sprees.
Total U.S. crude oil inventories stood at 356.6 million barrels as of last week.
The report also showed that total motor gasoline inventories decreased by 1.8 million barrels, compared to forecasts for a decline of 0.8 million barrels, while distillate stockpiles declined by 2.9 million barrels.
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