October crude oil prices traded lower during the overnight and early morning hours, pressured by fresh European debt concerns and reports that showed no US job growth in August. Some traders indicated that these factors bolster the case that the global economy may be slipping back into a recession. Meanwhile, some in the market view prospects for another round of US quantitative easing and a slow return of Gulf of Mexico oil and gas operations (nearly 50% remains closed) following Tropical Storm Lee as factors that might lend support. The Commitments of Traders Futures and Options report as of August 30th showed non-commercial traders were net long 200,609 contracts, an increase of 20,112. Non-commercial and nonreportable traders combined held a net long position of 210,372 contracts, an increase of 13,925 in their net long positioning.