Positive jobs data from USA props up crude oil prices

09-Jul-13
Jobs data from the US surpassed expectations, boosting confidence in the world’s biggest economy. As a result oil prices inched up. However, a stronger dollar and concerns that the US central bank will taper off its economic stimulus measures as the US economic picture improves, limited the gains. New York’s main contract, light sweet crude for delivery in August, inched up to US$103.50 a barrel in morning trade and Brent North Sea crude for August delivery moved up to US$107.9.
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