NYMEX crude down $1/bbl on US unemployment data
06 November 2009 14:08 [Source: ICIS news]
LONDON (ICIS news)--NYMEX light sweet crude futures fell more than $1.00/bbl on Friday to take the front month December contract below $78.50/bbl after the US unemployment rate rose to 10.2 per cent, its highest level in more than 26 years.
US government data for October showed a loss of 190,000 jobs during the month.
By 13.35 GMT, December NYMEX crude had hit a low of $78.35/bbl, a loss of $1.27/bbl from the Thursday close of $79.62/bbl, before recovering to around $78.45/bbl.
At the same time, December Brent crude on ICE Futures was trading around $76.76/bbl, having hit a low of $76.56/bbl, a loss of $1.43/bbl from the previous close.
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By: Alex Davis
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