{"id":11865,"date":"2010-08-19T09:32:48","date_gmt":"2010-08-19T07:32:48","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11865\/wti-oil-price-nears-the-76-mark-awaits-us-jobs-data\/"},"modified":"2010-08-19T09:32:48","modified_gmt":"2010-08-19T07:32:48","slug":"wti-oil-price-nears-the-76-mark-awaits-us-jobs-data","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11865\/wti-oil-price-nears-the-76-mark-awaits-us-jobs-data\/","title":{"rendered":"WTI oil price nears the $76 mark, awaits US jobs data"},"content":{"rendered":"

WTI oil prices are trading higher on Thursday near the $76 mark as many investors stay on the sidelines ahead of the release of the latest US initial jobless claims data.<\/p>\n

US Light crude oil futures for September 2010 delivery was trading at $75.85 a barrel, 08.00 GMT on the NYMEX.<\/p>\n

The latest US jobs figures are expected to show a modest fall in claims to 478,000, but this may not be enough to reverse negative sentiment on the jobs outlook.<\/p>\n

WTI oil prices have this week shown signs of stabilising above the $75 mark, which is a level that most traders and analysts believe is representative of the current fundamental balance.<\/p>\n

However, a steady market is discouraging investors from actively trading oil, leaving oil prices under the influence of currency and stock market moves.<\/p>\n

Crude oil futures are currently at the mid point of 2010’s $64.24 to $87.15 trading range.<\/p>\n

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