Investing.com - Crude prices edged higher on Friday amid deep weekly losses left by one of the oil market’s worst tumbles for the year.
“After the heavy move down on the week, it won’t be unusual to see a little recovery though the momentum for oil is still decidedly down,” said John Kilduff, partner at New York energy hedge fund Again Capital. “Also, some speculative bids are likely to come in ahead of the jobs data.”were created last week versus August’s 187,000. The Federal Reserve will be closing watching the jobs report for ideas on what to do with interest rates at its forthcoming policy meeting in November.
For the week though, the U.S. crude benchmark was down 9%, heading for its sharpest weekly loss since March, after a five-week low of $82.16.For the week, the global crude benchmark was down more than 11%, on course to its sharpest weekly loss since April, after a five-week low of $82.84.
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Source: FXStreetNews - 🏆 14. / 72 Read more »