Crude oil
prices carried gains into Asia on Friday with U.S. jobs data in focus
as well as the latest developments as Greece tries to reach new terms
with reluctant creditors.
Traders now looked ahead to the release of the latest U.S. nonfarm payrolls report on Friday, for further indications on the strength of the recovery in the labor market.
Market analysts expect the data to show that the U.S. economy added 234,000 jobs in January, slowing from a gain of 252,000 in December, while the unemployment rate was forecast to hold steady at 5.6%.
On the New York Mercantile Exchange, crude oil for delivery in March rose 1.39% to $51.39 a barrel.
Overnight, crude oil futures rallied sharply on Thursday, one day after plunging almost 9%, as investors returned to the market to seek cheap valuations.
A day earlier, New York-traded oil futures plunged $4.60, or 8.67%, to settle at $48.45 after data showed that oil supplies in the U.S. rose to the highest level on record last week.
Read more Click here / www.trade4x.net
Traders now looked ahead to the release of the latest U.S. nonfarm payrolls report on Friday, for further indications on the strength of the recovery in the labor market.
Market analysts expect the data to show that the U.S. economy added 234,000 jobs in January, slowing from a gain of 252,000 in December, while the unemployment rate was forecast to hold steady at 5.6%.
On the New York Mercantile Exchange, crude oil for delivery in March rose 1.39% to $51.39 a barrel.
Overnight, crude oil futures rallied sharply on Thursday, one day after plunging almost 9%, as investors returned to the market to seek cheap valuations.
A day earlier, New York-traded oil futures plunged $4.60, or 8.67%, to settle at $48.45 after data showed that oil supplies in the U.S. rose to the highest level on record last week.
Read more Click here / www.trade4x.net
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