Connect to share and comment

Oil rises above $96 as strong U.S. jobs data point to high demand

BANGKOK - Oil prices rose sharply again Monday as euphoria over a U.S. jobs report continued to push prices higher. Benchmark oil for June delivery was up 87 cents to $96.48 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract jumped $1.62 to finish at $95.61 on Friday after U.S. employers added a surprisingly solid 165,000 jobs in April. That drove down the unemployment rate to a four-year low of 7.5 per cent and suggested the U.S. economic recovery may be gathering pace.
Syndicate content