Worries about slowing global economy pressures oil

Questions about the extent of a slowdown in the global economy
keep putting pressure on the price of oil.
Benchmark oil dropped 21 cents to $83.02 per barrel in New York.
Brent crude fell $1.07 cents to $97.37 in London.
More evidence is emerging that the U.S. economy is weakening.
The Commerce Department says companies placed fewer orders to U.S.
factories in April. That comes after a third straight month of weak
job growth in May.
In addition, China's economic growth is slowing and Europe is
mired in a financial crisis that has sent the region's unemployment
rate soaring.
Meanwhile, AAA says the national average dropped about half a
cent overnight to $3.585 a gallon. The price has fallen nearly 21
cents in the past month.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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