Benchmark crude for April delivery rose by over a dollar to US$81.50 on the Nymex and in London, Brent crude rose to US$79.89 on the ICE futures exchange.
Data from the Government’s unemployment report, showed jobless claims and unemployment numbers lower than expected for February and the jobless rate holding steady at 9.7% for February, elevating hopes that the economy may slowly be healing. Crude oil prices inched up on expectations of gasoline demand improvement during the year. News that China, the world’s second biggest consumer of oil seems to be on track for 8% growth this year, has also boosted oil prices. An improved economy is expected to dramatically increase personal and business consumption of petroleum-based products.
08-Mar-10 
