Oil Rebounds From Seven-Week Low on Forecast Gain in U.S. Jobs


05/04/2012 07:07 AST  Bloomberg

Oil rebounded from a seven-week low in New York before a government report forecast to show that payrolls rose for a fourth month in the U.S., the world’s biggest crude-consuming nation.

Futures advanced as much as 0.7 percent for the first gain in three days after a technical indicator signaled prices may have fallen too far. They dropped 2.4 percent yesterday, leaving West Texas Intermediate futures at the biggest discount to London-traded Brent crude in more than five months. Payrolls in the U.S. probably rose by 205,000 last month, according to Bloomberg survey before the Labor Department report tomorrow.

For more on this Click Here

Crude Oil News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR
Most Viewed Companies
Ticker Price Volume
RIBL 34.89 728,914
GFH 0.21
SECO 14.87 5,329,459
ADIB 6.8 2,115,877
DARALARKAN 12.08 13,082,278
DIC 3.91 13,158,942
NBAD 14.9 493,665
Recent News

China Seen Cracking on Property Controls
China’s slump in property sales and construction is spurring speculation that the government’s four-year-old campaign of real-estate controls will start to crack. Citigroup Inc. sees “targeted eas

Soybeans at 10-Month High as Record Crush Erodes U.S. Supplies
Soybeans extended their climb to the highest level in more than 10 months after a report showed record demand from U.S. mills, boosting concern that supplies from the world’s second-biggest exporter

WTI Crude Rises on Escalating Ukraine Crisis; Brent Holds Steady
West Texas Intermediate rose for a second day as concern over the escalating crisis in Ukraine outweighed data showing the biggest gain in U.S. crude supplies in more than a decade. Brent was steady

Platinum Strike Widens Output Deficit Seen Lasting Years
A labor dispute that all but shut platinum mines in South Africa since January is extending the longest shortfall in global production since 2005, which Morgan Stanley predicts will take at least fou

Growth in Scottish economy slows
The Scottish economy grew at a slower pace than the UK as a whole in the final three months of 2013, according to official figures.

Scottish GDP expanded by 0.2%, compared with growth of 0

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Are you satisfied with your full-service broker?