Brent extends losses on weak US job creation

05 April 2013 16:20  [Source: ICIS news]

LONDON (ICIS)--Brent crude oil futures extended losses to more than $2.00/bbl on Friday, pressured by weak job creation in March.

By 14:55 GMT, the front-month May ICE Brent contract touched an intra-day low at $104.20/bbl, a loss of $2.14/bbl compared with the previous close. The contract then edged higher to trade around $104.45/bbl.

At the same time, the front-month May NYMEX WTI contract was trading around $92.30/bbl, having touched an intra-day low at $91.91/bbl, down $1.35/bbl compared with Thursday’s close. 

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%. Forecasters were hoping to see around 200,000 jobs added.


By: Kawai Wong
+44 20 8652 3214



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