US crude futures rise $1.62/bbl on upbeat employment data

03 May 2013 21:06  [Source: ICIS news]

HOUSTON (ICIS)--NYMEX light sweet crude (WTI) for June delivery extended recent gains, settling up by $1.62/bbl on Friday to $95.61/bbl, in response to news of better-than-expected job growth in the US, which could help ease concerns about a sharp showdown in the economy.

US employment data, which showed that the US added 165,000 jobs in April, boosted sentiment, despite data showing weak manufacturing activity in the US and China. The rise in crude prices is a continuation of Thursday's gains, when prices rose by $2.96/bbl.

ICE Brent for June delivery settled at $104.19/bbl, up $1.34/bbl.

By: Michelle Klump
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