{"id":11331,"date":"2010-07-02T17:29:38","date_gmt":"2010-07-02T15:29:38","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11331\/wti-oil-price-drops-to-72-mark-on-us-jobs-data-markets\/"},"modified":"2010-07-02T17:29:38","modified_gmt":"2010-07-02T15:29:38","slug":"wti-oil-price-drops-to-72-mark-on-us-jobs-data-markets","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11331\/wti-oil-price-drops-to-72-mark-on-us-jobs-data-markets\/","title":{"rendered":"WTI oil price drops to $72 mark on US jobs data, markets"},"content":{"rendered":"

WTI oil price continues to have a mixed week with today’s trading session seeing the $72 mark after opening on Monday over $76 a barrel, while US jobs data and lower stock markets impact commodity prices.<\/p>\n

US WTI Light crude oil futures for August 2010 delivery fell to $72.55 a barrel at 16.00 GMT on the NYMEX.<\/p>\n

The US Labour Department reported that the unemployment rate fell to 9.5 per cent in June, its lowest level in nearly a year, but US employers slashed 125,000 jobs last month, the most since October 2009.<\/p>\n

Oil prices have lost around $4 in the last five days echoing a modest downturn on US markets and continued debt problems in Europe.<\/p>\n

“Crude oil supplies are certainly adequate given the weakness in Europe and elsewhere in developed nations” says Addison Armstrong, director of market research at Tradition Energy.<\/p>\n

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