Crude gains as jobless benefit claims in US fall

07 March 2013 15:50  [Source: ICIS news]

LONDON (ICIS)--Crude oil futures gained on Thursday after the US published a positive jobs report indicating that the US economy continues to make progress.

By 15:19 GMT, the front-month April NYMEX WTI contract touched an intra-day high at $91.73/bbl, a gain of $1.30/bbl compared to the settlement on Wednesday. The contract then edged a little lower to trade around $91.55/bbl.

At the same time, the front-month April ICE Brent contract was trading around $111.15/bbl, having touched an intra-day high at $111.40/bbl, a gain of 34 cents compared to the previous close.

The number of American who filed for unemployment aid fell last week by 7,000 claimants to the lowest levels since March 2008.

By: Kawai Wong
+44 20 8652 3214

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