Oil hovers above $109 on the concerns of the economy

Singapore - oil prices fluctuated over $109 per barrel Thursday in Asia as investors cooked if the slowdown in us economic growth will undermine crude oil demand.

Analysis comparative crude for the time of a barrel at Singapore afternoon late June delivery dropped $ 10 cents to 109.14 in electronic commerce on the New York Mercantile Exchange. The contract has lost $1.81 to $109.24 Wednesday.

In London, Brent crude for June delivery was up 45 cents to $121.64 per barrel on the ICE Futures Exchange.

Crude fell 2 1/2-year over $114 last weekend that traders eye signs U.S. economic growth falters.

The Institute for supply management said Wednesday its index of service area rose at the slowest pace in eight months in April, while the private processor ADP payroll reported that 179,000 new jobs in the private sector have been added in April, much less than expected economists.

The Government should announce a number non-agricultural April Friday.

Cameron Hanover, "employment seems unlikely to increase as long as it has need for sustainable economic growth," said in a report. "The major assets which have been at the heart of the investor purchases if long lost some luster.".

Fighting between rebels and forces loyal to the Libyan leader Muammar al-Gaddafi, who has closed almost all of the country of 1.6 million barrels per day of raw output, slid into a paralysis in recent weeks. A resolution of the conflict and the resumption of oil production would likely result in a sharp drop in crude oil prices, analysts said.

"Civil war in Libya and problems elsewhere in the Middle East have added a risk premium of approximately $ 30 a barrel of crude oil," capital Economics said in a report. "We expect the molten risk premium as and when the Libyan crisis facilitates, helping to drag the price back within the range of the OPEC $ 70 to $ 90 by the end of the year."

Other Nymex trading in June, contracts, oil heating reaches 1.7 cents $3.16 a gallon of gasoline fell 0.6 cents to 3.33 $ per gallon. Future of natural gas were 1.5 cents to $4.56 per 1,000 cubic feet.