Oil prices sank below $106 a barrel Friday as a jump in the U.S. unemployment rate signaled to traders that Americans might keep paring back their energy use to save money.
The Labor Department said the economy lost jobs in August for the eighth consecutive month _ and at a faster-than-expected pace. The unemployment rate spiked to 6.1 percent from 5.7 percent in July, above the 5.8 percent rate that analysts forecast.
"There's been a terrific amount of growing concern about the outlook for demand globally," said John Kilduff, senior vice president of risk management at MF Global LLC. "Today's employment report emboldened that …
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