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
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
SAGRINSURANCE 34.03 752,565
ALKHODARI 30.23 443,527
SABIC 91.97 2,983,944
MERS 219.6 50,969
SECO 19.44 5,987,911
SPIMACO 44.14 341,468
EEC 35.21
Recent News

US index at peak, European stocks extend gains on Greece, Fed
European stocks extended gains for a sixth day to its highest level in seven years, and US indexes recovered to hit another record after Greece proposed a list of reforms to euro group and Federal Re

Afriland First Bank officially launches Islamic finance in Cameroon
At an event held at the Hilton Hotel in Yaounde, Cameroon, on 20 February, Afriland First Bank unveiled its suite of Islamic finance products.

For more than 10 years, First Bank has been a

UAE residents' alert: Personal loan rates decline by 30%
Banks in the UAE are flush with cash, thanks to a growing economy and business development, both international as well as local and regional.

It is natural, then, that banks and other fina

NBAD targets organic growth in UAE, abroad
National Bank of Abu Dhabi (NBAD) is not interested in buying the Egypt retail business of Citigroup and is instead targeting organic growth in the country and globally, the bank's chief executive sa

Yen gains on strong wages data, Aussie down ahead of RBA
The Japanese yen gain on solid wage data Tuesday, while the Australian dollar remained weaker ahead of the latest central bank view on the cash rate with chances for a cut seen as likely.

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

Poll

Which of the following do you think is the best long-term investment?