* Storage at Sea crude sharply in the last 2 weeks (Updates with settlement prices, replacing the last graph storage offshore)
By Matthew Robinson
NEW YORK, Aug 7 (Reuters) - Oil fell from six-week highs on Friday, pressured by gains in the dollar after the release of better-than-expected U.S. employment loss numbers.
U.S. Employers cut 247,000 jobs in July, far less than expected and the lowest in any month since August last year, according to a government report, adding that the optimism that the world's largest economy is turning around. [ID: nN07385157]
"The employment report was a mixture of oil traders. First, it was good for the basics so that people can work and buy things," said Chris Jarvis, senior analyst at Caprock Risk Management in Hampton Falls, New Hampshire.
"But it could mean that Europe will see the market as the delays and make people short the euro, a stronger dollar and longer-term, and put some pressure on commodities."
U.S. crude settled $ 1.01 lower at $ 70.93 a barrel after touching a high of $ 72.84 for six weeks before. London Brent crude fell $ 1.24 to settle at $ 73.59 a barrel.
The drop came as the dollar gained against the euro and the yen, putting pressure on commodities denominated in U.S. currency. [. N] Wall Street gained after the publication of U.S. jobs data.
The economic crisis has dampened the demand for fuel, pushing crude from record highs near $ 150 a barrel in July 2008 below $ 33 a barrel in December.
Oil prices have found support for optimism that a potential change in the economy could increase fuel consumption mark, although global oil inventories remain high, particularly in top consumer the United States. [EIA / S]
Several industry sources estimated that there were 70 million barrels of crude oil is stored in the sea. Although estimates vary from around 60 million to 100 million barrels, most sources agree on storage levels in the sea rose around 10 million barrels in the past two weeks.
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