Saturday, April 17, 2021

Crude slides around 1% on US jobs report, Chinese weak economic growth

Featured

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com

Crude oil prices down about 1% on Friday after weak US jobs report, the European Central Bank signaled more economic dilemmas in the region and U.S. jobs report showed labor market growth witnessed a halt in February. Furthermore, a Chinese economy growing at its slowest pace in nearly thirty years and unable to end trade hostilities with the U.S. after number of talks.

- Advertisement -

AT NYME, West Texas Intermediate crude (WTI) closed down 59 cents, or 1%, at $56.07 a barrel after tumbling more than 2% earlier.

The U.S. crude benchmark has struggled to establish clear direction since a slide of nearly 3% last Friday, ending the current week up by just 0.5%

Brent crude, the global oil benchmark, was down by 53 cents, or 0.8%, at $66.10 per barrel for the week, it rose 1%.

 

- Advertisement -
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com
- Advertisement -spot_img

Latest News

COVID-19: Ontario govt directs police to implement stay-home orders as the cases soars

Ontario has extended further two weeks state of emergency restricting interprovincial travel by placing new restrictions and powered police...
- Advertisement -

Related News