Crude oil futures fall on slower US job creation

05 April 2013 14:28  [Source: ICIS news]

LONDON (ICIS)--Crude oil futures weakened by more than $1.00/bbl on Friday on the back of weak jobs data emerging from the US.

By 13:00 GMT, the front-month May ICE Brent contract touched an intra-day low at $104.92/bbl, a loss of $1.42/bbl compared with the settlement on Thursday. The contract then edged higher to trade around $105.20/bbl.

At the same time the front-month May NYMEX WTI crude oil futures contract was trading around $92.35/bbl, having touched an intra-day low at $91.91/bbl, a loss of $1.35/bbl compared with the previous close.

The US added just 88,000 non-farm jobs in March, cutting the overall unemployment level in the US to 7.60%. Forecasts were hoping to see around 200,000 jobs added.





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