Oil prices trading near 2010 highs on latest US jobs data

Crude oil prices jumped higher in trading on Friday afternoon above $82 as the market got a boost from the latest US jobs data which was better than most expected, traders said. NYMEX Light crude oil futures for delivery in April, jumped to a high of $82.07 a barrel and is currently trading at $81.86, up $1.65 from Thursday’s close, while in London, Brent crude oil futures for April was up 1.79 dollars at $80.33, after earlier touching $80.53 on the ICE Futures Exchange. “It was the latest US unemployment numbers that really set the markets in motion,” said analyst David Jones at financial spread-betting firm IG Index. Oil also rose sharply after encouraging news from China, which is the second biggest global energy consumer. “Crude oil prices rose … following news that China will maintain its economic stimulus package that drove overnight gains across the Asian markets and raised hopes for a boost in crude oil demand,” said Sucden Financial Research analyst Myrto Sokou. This years high for crude oil prices was $83.95 reached in the day’s trading for NYMEX Light crude oil futures on January 11th 2010. Brent oil price near $80 mark, OPEC oil shipments down Oil prices trading steady around $80, stronger US dollar Oil prices trading steady, awaits US crude inventory data The Weekly Oil Futures Wrap at Live Oil Prices Oil prices trading down two percent on latest US jobs data Oil prices trading down two percent on stronger US dollar Oil prices trading around $80 on latest US inventory data Brent oil price trading up on latest positive US GDP data Crude oil prices trading steady on US oil stocks data Crude oil ends weeks trading higher, back near $80 Light oil prices trading around $74, eyes on US Dollar Brent oil price trading static, awaits US oil inventory data Oil prices & commodities trading higher, US dollar slides Oil prices trading higher amid stronger US Dollar, Europe Oil prices trading around $77 after US oil demand data Crude oil prices trading higher, eyes on US Dollar Index Oil prices trading lower after loosing two percent Monday Oil prices drop in trading before US inventory data Oil prices trading steady after Thursday loss, eyes on dollar Brent oil price trading under $76 on Greece Worries

Here is the original post:
Oil prices trading near 2010 highs on latest US jobs data