On Thursday, crude oil fell to a four-month low of $95.95 as concerns over the U.S. economic outlook and its impact on future oil demand prospects dampened the appeal of the commodity. However, later in the day, the price reversed course and rose after Chinese output data beat expectations. Finally, light crude gained 0.10% and finished the day 10 cents above the Wednesday’s close.

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On Wednesday, crude oil lost 1% and dropped to a new monthly low of $96.16, tumbling for a third straight session on pressure from surging stockpiles. The price of light crude accelerated declines after a government report showed that U.S. oil supplies rose more-than-expected in the week ended Oct. 18. Crude oil has dropped more than 5% in five sessions, reaching below $97 a barrel for the first time since July. Yesterday, light crude hit its lowest level since July 1.

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On Tuesday, crude oil dropped below $99 per barrel after data showed that the U.S. economy added fewer than expected jobs in September. Disappointing U.S. jobs data and a build in crude stockpiles raised concerns about oil demand in the world's largest oil consumer and pushed the price of light crude to a new monthly low of $98.11. With this downward move light crude lost 1.40% and declined to its lowest level lowest in nearly four months.

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On Monday, crude oil lost 1.35% and dropped to a new monthly low of $99.41. Light crude declines below $100 for the first time since July after the EIA data showed that U.S. crude stockpiles grew more than expected in the week to Oct. 11.

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On Friday, crude oil gained 0.17% and increased to $101.71 (an intraday high). Data from China showed that its economic growth accelerated in the third quarter, boosting the prospects for crude demand for the world's largest oil importer. Additionally, the uncertainty over when the Federal Reserve will scale back its bond-buying program amid a prolonged U.S. budget battle also provided some support to prices.

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