Meanwhile, news emerged that an earthquake of 7.4 magnitude hit Japan, however, oil prices continued to rise, where investors are still focused on the political crisis in Middle East.
Crude oil prices could fall on Friday amid the lack of economic news in the United States, moreover, some investors and traders might be looking to close their positions ahead of the weekend.
oil prices forecast jumped on Friday 8 april 2011
Crude Oil – Oil prices jumped on Friday, as supportive US jobs data reinforced economic growth expectations and Libya's conflict and Middle East unrest kept supply threats in focus, pushing US crude to its highest settlement since 2008. US nonfarm payrolls registered solid growth for a second month in March and the jobless rate hit a two-year low of 8.8 percent, helping fuel optimism about oil demand.Read More...
Crude Oil Weekly Outlook For April 04, 2011-April 08, 2011
Friday, 11:00. Canada will release the jobs report for the month of March, where the net change in employment is expected to show that 31.0K jobs were added in March following the prior added 15.1K jobs in February, while unemployment is expected to drop in March to 7.7% from 7.8% back in February. Read More...
Oil prices remain high in Asia
World oil prices Friday stayed above multi-year highs Friday, supported by the continued tensions in the Arab world and the postponement of elections in Nigeria, Africa's biggest oil producer. New York's benchmark West Texas Intermediate light sweet crude for May delivery rose 55 cents to $110.85 per barrel after touching its highest level in two-and-a-half years in US trade Thursday. Read More...
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