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London: Oil fell more than $1 a barrel yesterday from its $100 lifetime high as gloomy US jobs data heightened concern about a slowdown in the world's top consumer that could dampen fuel demand.
Equities markets and the US dollar also took a hit after a government report showed the US unemployment rate rose to five per cent in December - its highest in more than two years.
US crude dropped $1.31 cents from the previous day's close to $97.87 by 1452 GMT. London Brent crude slipped 77 cents to $96.83.
"The jobs data is pressuring the stock market and may be viewed as another negative sign for the economy, which in the long run will hurt oil demand," said Tom Bentz of BNP Paribas.
Oil's surge has darkened the economic outlook in the United States, already battered by a housing crisis, and has threatened economic growth in Europe.
Oil marched to $100.09 on Thursday, the second straight day of triple digit prices, after crude stocks in top consumer the US sank to a three-year low.
Some analysts said the reluctance of the Organisation of Petroleum Exporting Countries (Opec) to increase crude supplies despite oil's break above $100, combined with geopolitical tensions, would keep oil at record levels.
Major consuming nations have no intention of releasing strategic fuel stocks to curb a rally entering its sixth year.
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