Data provided by McGregor BFA
All data is delayed
Loading...
See More

Oil mixed as US jobless claims weigh

Jan 14 2011 09:39 Sapa

Related Articles

Oil resumes strong run

Oil price see-saws in Asian trade

Oil up as trans-Alaska pipeline stays shut

Oil slides as dollar strengthens

Oil around $90 on upbeat US jobs data

Oil prices edge lower

 

Singapore - Oil prices were mixed in afternoon Asian trade on Friday as investors digested the implications of a rise in US jobless claims and waited for more economic data from the world's biggest economy.

New York's main contract, light sweet crude for delivery in February, was down 23 cents at $91.17 a barrel and Brent North Sea crude for February was up 30c to $98.36.

Ong Yi Ling, an investment analyst with Phillip Futures in Singapore, said prices were under pressure from initial jobless claims figures in the United States that hit a 10-week high.

New US claims for unemployment benefits rose 35 000 last week over the previous week, the Labour Department reported.

New claims touched 445 000 in the week ending January 8, beating market expectations.

Ong said investors were also looking forward to US December retail sales. The health of the US economy is closely watched by the market because it is the world's biggest oil consumer.

"If the December retail sales figures are up, it might lead to optimism in the economy and rising oil prices," Ong said.

commodities  |  oil  |  us economy  |  us jobs data
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

'Zuma's legacy will be judged by Nkandla'

The legacy of President Jacob Zuma is contingent on how he deals with the issue of upgrades to his Nkandla homestead, says Cape Town Archbishop Thabo Makgoba.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...