Oil Falls to Lowest Since February Before U.S. Jobs Data

Oil fell below $100 a barrel for the first time since February as U.S. employers added fewer workers than forecast, stoking concern that demand won’t be enough to reduce inventories from their highest level in 21 years.

Futures declined 3.9 percent after Labor Department figures showed payrolls rose 115,000, the smallest gain in six months. An advance of 160,000 was projected, according to the median of 85 economist forecasts in a Bloomberg survey. Euro-region services and manufacturing output contracted more than initially estimated in April.