WTI Oil Rises Above $100 as U.S. Jobs Signal Gain in Fuel Demand
Senin, 10 Februari 2014
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West
Texas Intermediate crude rose for a fifth day, climbing above $100 a barrel as
a decline in U.S. unemployment bolstered the outlook for fuel demand in the
world’s biggest oil consumer.
Futures
advanced as much as 0.6 percent in New York after gaining the most in two
months on Feb. 7. The jobless rate dropped to the lowest level since October
2008, while payrolls increased by 113,000 in January, according to the Labor
Department. That was below the median estimate of economists in a Bloomberg
News survey. Libya’s crude production expanded after the end of protests that
shut a pipeline, according to National Oil Corp.
WTI
for March delivery rose as much as 58 cents to $100.46 a barrel in electronic
trading on the New York Mercantile Exchange, and was at $99.98 at 1:43 p.m.
Sydney time. The contract climbed 2.1 percent to $99.88 on Feb. 7, the highest
close since Dec. 27. The volume of all futures traded was more than double the
100-day average. Prices advanced 2.5 percent last week.
Brent
for March settlement gained as much as 18 cents, or 0.2 percent, to $109.75 a
barrel on the London-based ICE Futures Europe exchange. The European benchmark
crude was at a premium of $9.34 to WTI. The spread widened for a third day on
Feb. 7 to close at $9.69.
(Source: Bloomberg)
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