Damp growth in June US jobs numbers pulls down oil prices

09-Jul-12
The last day of the previous week saw Brent crude prices fall by over two dollars to US$98.1 after a report showed damp US jobs growth in June, bolstering concerns that a sluggish global economy will impact oil demand. US employers added only 80,000 jobs in June, 10,000 fewer than analysts expected, and the unemployment rate remained at 8.2%. Oil on the Nymex posted a 51 cent weekly loss, slumping to US$84.45 a barrel.
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