NYMEX-Crude down a fifth week on economic worries

* U.S. crude stocks rose last week -EIA

* U.S. jobless claims rise weighs on oil

* Coming up: U.S. May payrolls data 8:30 a.m. Friday

NEW YORK, June 1 (Reuters) - U.S. crude oil futures fell on
Friday for the fourth day in a row, hitting their lowest levels
in nearly eight months and extending losses to a fifth week, as
weak U.S. jobs data, soft Chinese manufacturing and the
deepening euro zone crisis sparked a broad market selloff.

All the bleak economic news spurred further oil demand
worries just a day after U.S. government data showed that
domestic crude stockpiles rose for the 10th straight week last
week.

Crude oil futures sank with Wall Street, which dropped more
than 2 percent. The Dow industrials average crossed into
negative territory for the year.

Jobs growth in the United States, the biggest oil consumer,
slowed sharply for a third straight month as only 69,000 jobs
were added to nonfarm payrolls in May, less than half the number
expected and the smallest rise in a year. The unemployment rate
ticked up to 8.2 percent from April's 8.1 percent, Commerce
Department data showed.

China's manufacturing sector, as measured by its official
purchasing managers' index, fell more than expected to 50.4 in
May, the weakest level this year and down from its 13-month high
hit in April.

In Europe, France and Germany's manufacturing industries
contracted at the fastest pace in three years. The same sectors
in Italy, Spain and Greece also weakened. Spain and Greece are
also trying to grapple with serious financial setbacks.

FUNDAMENTALS

* On the New York Mercantile Exchange, crude for July
delivery settled at $83.23 a barrel, skidding $3.30, or
3.81 percent. It was the lowest settlement since Oct. 7 when
prices ended at $82.98.

* For the week, front-month crude fell $7.63, or 8.4 percent,
the biggest loss for a week since the week to Sept. 23 when
prices fell 9.2 percent. In five weeks, front-month crude
dropped $21.70, or 20.68 percent, the biggest five-week loss
since the period to Jan. 18, 2009, when prices fell 21 percent.

* In London, Brent for July delivery settled at
$98.43 a barrel, down $3.44, or 3.38 percent. It was the lowest
finish for front-month Brent since Jan. 27, 2011, when prices
ended at $97.39.

* For the week, front-month Brent fell $8.40, or 7.86
percent, the biggest one-week loss since the week to May 6, when
prices ended down 13.3 percent. In five weeks, front-month Brent
has slumped $21.40, or 17.86 percent, the biggest five-week
decline since the period to June 4, 2010, when prices lost
almost 19 percent.

* U.S. crude's discount against Brent narrowed slightly to
$15.20, from $15.34 on Thursday. CL-LCO1=R

* NYMEX July RBOB settled at $2.6568 a gallon,
falling 6.59 cents, or 3.42 percent, the lowest front-month
settlement since Dec. 28, when prices closed at $2.6513. For the
week, front-month RBOB fell 23.61 cents, or 8.16 percent, the
biggest weekly loss since the week to May 8, 2011, when prices
ended down 9.8 percent.

* NYMEX July heating oil settled at $2.6279 a gallon,
down 7.53 cents, or 2.79 percent, the weakest close since Jan.
25, 2011, when prices ended at $2.5929. For the week, front
month heating oil fell 19.91 cents, or 7.04 percent, the biggest
weekly loss since the period to June 14, 2011.

* Money managers cut their net long U.S. crude futures and
options positions by 1,771 contracts to 139,168 in the week to
May 29, the U.S. Commodity Futures Trading Commission (CFTC)
said. [ID: nL1E8H1J2S]

* Speculators in the same week cut their net longs in
heating oil futures and options by by 5,762 contracts to
8,124 while they reduced their positions by 671 to 68,487, the
weekly CFTC report also showed.

* Nigeria faces fuel shortages as a crackdown on fraud and
the government's lack of funds to pay for subsidies has prompted
private firms to halt imports, which could trigger unrest and
harm the country's faltering economic expansion.

* Citigroup Global Markets lowered its 2013 Brent crude oil
price forecast by 17.5 percent to $99 a barrel, from $120, and
its 2012 forecast to $115, from $125. It also cut its forecast
for U.S. crude by $28 to $85 for next year and by $11 to $95 for
this year.

MARKETS NEWS

* The dollar fell against the euro and yen after the gloomy
jobs report fueled talk that the Federal Reserve may need to
take further monetary easing measures to prop up the fragile
economy.

* Copper sank to the lowest level this year on heavy volume
as global growth prospects worsened after the disappointing U.S.
jobs data, adding to pessimistic data from China and Europe.

* Gold leaped 4 percent, its biggest one-day gain in more
than three years, as the weak U.S. payrolls report added to
fears of a global economic slowdown and spurred talk of further
U.S. monetary easing.

UPCOMING DATA/EVENTS

* American Petroleum Institute's weekly petroleum inventory
data, 4:30 p.m. EST (2030 GMT) Tuesday.

SETTLE NET PCT LOW HIGH CURRENT DAY AGO

CHNG CHNG VOL VOL
CLc1 83.23 -3.30 -3.8% 82.29 86.59 389,283 345,433
CLc2 83.56 -3.29 -3.8% 82.63 86.90 73,181 63,774
LCOc1 98.43 -3.44 -3.4% 97.54 101.95 315,151 258,762
RBc1 2.6568 -0.0659 -2.4% 2.6326 2.7214 62,976 11,003
RBc2 2.5944 -0.0732 -2.7% 2.5718 2.6617 38,467 64,676
HOc1 #N/A A24#N/A A24#VALUE! 2.6085 2.7133 70,262 11,952
HOc2 2.6364 -0.0766 -2.8% 2.6171 2.7221 24,917 71,272

TOTAL MARKET VOLUME OPEN INTEREST

CURRENT May 31 30D AVG May 31 NET CHNG
CRUDE 708,818 646,060 518,793 1,437,821 -2,142
RBOB 151,010 148,676 156,502 286,496 1,920
HO 152,835 149,863 133,768 318,492 1,319

(Reporting By Gene Ramos and Robert Gibbons)