Crude Prices Sink $1 After Weak Jobs Report

Via Fox Business

Brent and U.S. crude futures fell $1 on Friday as a U.S. August jobs report showing fewer gains than forecasted pressured oil prices in volatile trade after a brief rally on expectations the weak report might bring more central bank stimulus.

Brent crude was down 79 cents at $112.70 a barrel at 9:58 a.m. EDT (1358 GMT), having traded from $112.48 to $114.65.

U.S. crude was down $1.14 at $94.39 a barrel, having traded from $94.08 to $96.59.

[Full article here]

By in Industry on September 7, 2012

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