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Oil falls on US unemployment claims data
Source: Agencies |
February 1, 2013, Friday
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THE price of oil fell Thursday as US unemployment claims rose more than expected.
Benchmark oil for March delivery fell 45 cents to close at US$97.49 a barrel on the New York Mercantile Exchange.
Oil is still rose more than US$5 for the month of January, giving it the biggest monthly increase since August.
The government said the number of Americans seeking unemployment aid rose sharply last week, although it remained at a level consistent with moderate hiring. Traders will get a further indication about the strength of the jobs market Friday, when the Labor Department issues the closely followed monthly nonfarm payrolls report.
Brent crude, used to price international varieties of oil, rose 65 cents to US$115.55 a barrel on the ICE Futures exchange in London.
In other energy futures trading on Nymex:
- Wholesale gasoline lost 1 cent to US$3.03 per gallon.
- Natural gas was flat at US$3.24 per 1,000 cubic feet.
- Heating oil rose 1 cent to US$3.13 a gallon.
Benchmark oil for March delivery fell 45 cents to close at US$97.49 a barrel on the New York Mercantile Exchange.
Oil is still rose more than US$5 for the month of January, giving it the biggest monthly increase since August.
The government said the number of Americans seeking unemployment aid rose sharply last week, although it remained at a level consistent with moderate hiring. Traders will get a further indication about the strength of the jobs market Friday, when the Labor Department issues the closely followed monthly nonfarm payrolls report.
Brent crude, used to price international varieties of oil, rose 65 cents to US$115.55 a barrel on the ICE Futures exchange in London.
In other energy futures trading on Nymex:
- Wholesale gasoline lost 1 cent to US$3.03 per gallon.
- Natural gas was flat at US$3.24 per 1,000 cubic feet.
- Heating oil rose 1 cent to US$3.13 a gallon.
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