* U.S. equities slump adds to pressure on crude
* Crude slide despite positive U.S. jobs data
* Coming up: CFTC positions report 4:30 p.m. EDT
NEW YORK, May 7 (Reuters) - U.S. crude oil futures fell
sharply in volatile, choppy trading on Friday as concerns about
the Greek fiscal problems spreading and uncertainty after
Thursday's volatile moves by the stock market offset a positive
U.S. nonfarm payrolls report.
The euro relinquished gains against the dollar on the
concerns that Greece's debt crisis could spread to other euro
zone countries, adding to the pressure on oil. []
"The uncertainty, as it relates to the U.K. and Europe, is
too formidable for energy to mount a rally off the impressive
employment data. The recovery thesis that got crude up near $90
per barrel is in serious question at the moment," said John
Kilduff, partner at Round Earth Capital in New York.
U.S. stocks fell in volatile trade on Friday with investors
on edge after the previous session's plunge and as worries over
euro zone debt offset data that showed the economy added jobs
in April at the fastest pace in four years. []
The government reported U.S. April nonfarm payrolls rose
290,000 in April and, with February's report revised to show a
jobs gain, marked the third month the economy has added jobs.
[]
Analysts surveyed by Reuters had expected the report to
show 200,000 jobs added last month.
PRICES
* On the New York Mercantile Exchange at 10:49 a.m. EDT
(1449 GMT), June crude <CLM0> was down $1.77, or 2.3 percent,
at $75.34 a barrel, trading from $74.51 to $78.19..
* Friday's intraday low of $74.51 was below Thursday's drop
to $74.58 and was the weakest front-month price since $73.71
was struck on Feb. 16.
* In London on the Intercontinental Exchange, June Brent
crude <LCOM0> fell $1.71, or 2.14 percent, to $78.12 a barrel,
trading from $77.58 to $80.65. The premium of Brent to NYMEX
crude was at more than $3 a barrel.
* NYMEX June RBOB <RBM0> fell 3.59 cents, or 1.66 percent,
to $2.1204 a gallon, trading from $2.1021 to $2.1884.
* NYMEX June heating oil <HOM0> fell 4.01 cents, or 1.9
percent at $2.0736 a gallon, trading from $2.0594 to $2.1328.
* The June/June heating oil crack spread <0#CL-HO=R> was at
$12.17 a barrel. The spread ended Thursday at $11.66. The
June/June RBOB crack spread <0#RB-CL=R> was at $13.96. The
spread ended Thursday at $13.45.
* The spread between the current front month and the
five-year forward crude contract <CLc61> was at $16.20, based
on the June 2015 contract Thursday settlement at $91.54. The
spread ended Thursday at $14.43.
TECHNICALS
NYMEX crude 10-day/20-day moving average: $85.03/$85.34
Technical support/resistance:
NYMEX crude: $76.50/$78.00
NYMEX heating oil: $2.0500/$2.1900
NYMEX RBOB: $2.10/$2.23
For a full report on technicals, click on []
MARKET NEWS
* Global stocks fell as fears about Greece's debt crisis
went global, with investors seeing it as an omen of turmoil in
other European economies. []
* Britain's opposition Conservatives said they would try to
form a government with the smaller Liberal Democrats after
winning the most seats in the closest parliamentary election in
a generation. []
* BP Plc <BP.L> engineers carefully lowered a massive metal
chamber toward a gushing oil well on the Gulf of Mexico seabed
on Friday in a high-stakes mission to contain a leak that
threatens an environmental catastrophe on U.S. shores.
[]
(Reporting by Robert Gibbons and Gene Ramos; Editing by Lisa
Shumaker) ((robert.gibbons@thomsonreuters.com; +1 646 223
6059; Reuters Messaging:
robert.gibbons.reuters.com@reuters.net))
