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Markets Calm, But No Bottom Found in Crude Prices

June 4, 2012 7:48 AM EDT Send to a Friend
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The futures market for equities is calm on Monday morning, but the price of crude oil continued to decline. Investors were hit with a whammy on Friday, when U.S. jobs data came in well below expectations. The weak U.S. jobs number adds to global worries about slowing growth in China and increasing turmoil in the EU, leaving investors with few reasons to be optimistic on crude prices.

Modest growth in the US had been a bright spot for investors, but the weakening data has many investors throwing up their hands and abandoning risk assets. Friday's sell off in crude continued in Asian trading on Monday, with an overnight low just over $81 per barrel for WTI.

Equities markets are expected to open flat. United States Oil (NYSE: USO), and ETF that tracks oil futures in the US, is expected to open lower at $30.96.




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