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 | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC
Most Viewed Companies
Ticker Price Volume
SABIC 83.5 3,267,171
EMAAR 6.78 61,972,493
RIBL 17.23 9,299,116
EEC 43.49 18,255,002
ALMARAI 78 1,799,387
STC 67.25 1,154,613
ZAIN 480 4,898,753
Recent News

GCC chambers to honor inventors
Under the patronage of Abdul Latif Al-Zayani, secretary general of the Gulf Cooperation Council, the Federation of GCC Chambers will be organizing the closing ceremony of the 2nd Gulf campaign for th

Organisations in Middle East turn to digital platforms
Lithium Technologies, a leader in connecting brands with their customers on social platforms, announced that it has made significant strides in the Middle East.

In 2014, several new custo

ADIB excels in Islamic finance and conventional banking
The Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, has been named “Best Bank in the UAE” at The Banker 2014 awards, in recognition of its financial performance, the

UNB committed to improve overall services
The Union National Bank (UNB) is committed to continue with improving and developing overall customer service by motivating its staff to exceed customer expectations, create a strong customer service

Rouble gains as officials step up verbal support
Russia’s rouble strengthened on Friday after Finance Minister Anton Siluanov confirmed his ministry had sold foreign currency, and on expectations that exporters will increase dollar sales.

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?