{"id":11186,"date":"2010-06-18T09:13:04","date_gmt":"2010-06-18T07:13:04","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11186\/wti-oil-price-dips-as-us-jobs-data-shows-increase\/"},"modified":"2010-06-18T09:13:04","modified_gmt":"2010-06-18T07:13:04","slug":"wti-oil-price-dips-as-us-jobs-data-shows-increase","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11186\/wti-oil-price-dips-as-us-jobs-data-shows-increase\/","title":{"rendered":"WTI oil price dips as US jobs data shows increase"},"content":{"rendered":"

WTI oil prices dipped below $77 a barrel in trading on Friday as the latest set of US jobs data showed another increase.<\/p>\n

US Light crude oil futures for July delivery was at $76.55 a barrel midday Singapore time on the NYMEX.<\/p>\n

The release of the weekly US jobless and continuing claims numbers disappointed with initial first time jobless claims rising to 472k. As a rule of thumb US employment only tends to increase when initial claims fall below the 400k mark.<\/p>\n

Meanwhile,a US government report yesterday showed US crude supplies unexpectedly grew last week on lower refinery operations.<\/p>\n

\u201cSupplies are plentiful,\u201d said Andrey Kryuchenkov, an analyst with VTB Capital in London. \u201cIt\u2019s probably time for a pause in the latest energy rebound.\u201d<\/p>\n

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