Arab Today, arab today crude oil drops after release of jobs data
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Crude oil drops after release of jobs data

Arab Today, arab today

Arab Today, arab today Crude oil drops after release of jobs data

Washington - UPI

Crude oil prices took a jolt Friday, dropping under $85 per barrel after a Labor Department report that said the U.S. unemployment rate rose in October. The rate rose from 7.8 percent to 7.9 percent, in line with expectations, but enough to put a backspin on oil prices. Higher unemployment implies demand will decline. West Texas Intermediate crude oil for December delivery gave up $2.29 cents to $84.80 per barrel on the New York Mercantile Exchange. Reformulated gasoline in recent trading added 0.044 cents to $2.578 a gallon. Home heating oil shed 0.8 cents to hit $2.9554 a gallon. Natural gas lost 0.5 cents to reach $3.549 per million British thermal units. At the pump, the average price for a gallon of regular unleaded gasoline was $3.496, down from Thursday\'s $3.507, AAA reported.

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