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Oil closing up 3 percent to end the week, but the steep losses
Date: 09/03/2016 08:50
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Information / follow-up ..
It closed up about 3 percent of oil after a report weak US jobs put pressure on the dollar and gave support to commodities but crude prices end the week sharply lower because of the abundance of supply concerns.
A report from the Labor Department that job growth in the United States is larger than expected decline in August after two consecutive months of strong gains.
This led initially to raise doubts that the Federal Reserve (Fed) interest rates at its meeting this month. But the dollar rose later in the day with the survival of the possibilities for the increase in interest rates in September.
But oil prices also received support from a report from Baker Hughes Energy Services Company shows the stability of the number of oil rigs running in the United States.
And it ended the World London Brent crude contracts for closer trading session high of $ 1.38, or 3.0 percent entitlement to $ 46.83 a barrel. But end the week on a loss of 6 percent in the biggest drop in five weeks.
And it stepped up US Brent crude contracts for West Texas Intermediate $ 1.20, or 3 percent, also a record at 44.44 dollars a barrel settlement. Over the week, US crude fell about 7 percent in the biggest loss in eight weeks.
In early trading today stepped up oil prices after Russian President Vladimir Putin said in an interview with Bloomberg News that he supported attempts by OPEC to implement the freeze of production with other producers.
OPEC will meet led by Saudi Arabia and other top exporters in the Middle shrugged with oil producers are not members of the organization in the forefront of Russia in the informal talks in Algeria from 26 to 28 September to discuss the freeze Anteg.anthy / 25 m
http://almaalomah.info/2016/09/03/economic/82728
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