Crude oil dips to one-week lows on weak jobs data

09-Aug-10
The US economy lost jobs for a second consecutive month in July, adding to worries that economic recovery will continue to struggle, leaving demand outlook for commodities uncertain. Crude oil futures fell for a third consecutive day- light, sweet crude for September delivery fell to US$80.7 on the Nymex, while Brent crude fell to US$80. That crude oil prices have sustained above US$80 is an indication that crude oil is taking its cues from the global economic growth. Crude oil has crossed the US$80 threshhold for the first time since May.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha