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Oil slips on jobless data, rebounding dollar

NEW YORK, Crude prices slipped from a one-year high on Thursday as disappointing job-loss numbers and gains in the U.S. dollar weighed on commodities markets.

Light, sweet crude for December delivery dipped 18 cents to settle at 81.19 dollars a barrel on the New York Mercantile Exchange. The contract rose to a one-year high of 82 dollars a barrel on Wednesday, boosted by a larger-than-expected draw in gasoline stocks.

Oil opened lower on Thursday as the dollar rebounded from its lowest in 14 months versus the euro. A stronger dollar tends to sink crude because oil is priced in the greenback around the world.

Crude also took a hit as the Labor Department said that the number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, showing the job market was still weak except some signs of economic recovery.

In London, Brent Crude for October delivery also gave up 18 cents to settle at 79.51 dollars a barrel on the ICE Futures exchange.