Oil Falls on Lower-Than-Projected U.S. Company Payroll Growth

Crude oil fell for a third day as weaker-than-forecast growth in U.S. company payrolls bolstered concern that economic growth in the world’s biggest oil-consuming country is slowing.

Oil slipped 1.6 percent after the Labor Department said private payrolls that exclude government agencies rose by 71,000, less than forecast, after a gain of 31,000 in June that was smaller than previously reported. A report on Aug. 4 showed that U.S. fuel supplies increased last week as demand dropped.