Sunday, October 4, 2009

Oil drops by 2% on US jobs data

Oil prices have fallen more than 2% after US economic data raised doubts about the speed of global recovery.
The Labor Department said the US economy lost 263,000 jobs in September, which was more than had been expected.
That caused crude oil futures to drop 2.6%, or $1.81, to $69.01 a barrel. Brent crude, traded in London, also shed $1.82 to $67.37.
US stocks and the dollar also fell, as investors had cause to reconsider hopes for a quick economic recovery.

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