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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-02-11 06:59 AM
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2. Oil hovers at $100 ahead of key US jobs report
SINGAPORE Oil prices hovered above $100 a barrel Friday in Asia as traders awaited a U.S. jobs report for evidence about the strength of the U.S. economy and demand for crude.

Benchmark crude for January delivery was up 60 cents to $100.80 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 16 cents to settle at $100.20 on Thursday.

In London, Brent crude was up 50 cents at $109.49 on the ICE futures exchange.

Crude has jumped from $75 during the last two months amid signs the U.S. economy will likely avoid a recession. Investors will be closely watching the Labor Department's November unemployment report later Friday for evidence economic growth is strengthening, which could justify higher crude prices.

http://old.news.yahoo.com/s/ap/oil_prices
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