Markets

Oil prices rise ahead of US jobs report

Oil prices climbed Friday ahead of a monthly U.S. jobs report that is expected to show a pickup in hiring.

Benchmark U.S. crude for May delivery was up 67 cents to $100.96 a barrel at 0915 GMT in electronic trading on the New York Mercantile Exchange. The contract gained 67 cents Thursday to close at $100.29.

The U.S. Labor Department releases its March employment report later Friday and it is expected to show that hiring bouncing back after severe cold dented job creation during the winter. Analysts forecast that employers added 195,000 jobs last month, according to a survey by FactSet. That would be the highest total in four months and up from 175,000 in February.

More people in employment typically results in higher energy and fuel consumption. Brent crude, used to set prices for international varieties of oil, rose 48 cents to $106.63 a barrel on the ICE exchange in London.

In other energy futures trading in New York: — Wholesale gasoline edged up 0.5 cent to $2.916 a gallon. — Natural gas fell 5.9 cents to $4.411 per 1,000 cubic feet. — Heating oil gained 1 cent to $2.917 a gallon.

Related Headlines

  • Markets unmoved by broadly in-line US jobs data

    European stocks closed the week on a high Friday after investors concluded that U.S. jobs data wouldn't prompt a change in the Federal Reserve's policy stance. U.S. 

  • Anthony Rinaldi

    S&P 500 has its worst week in 2 years

    U.S. stocks fell for a second day Friday, adding to the massive sell-off the day before and giving the market its worst week in two years. Investors found little reason to ... 

  • Daniel Kryger, Christopher Morie

    Stocks stabilize; Molson Coors jumps on earnings

    U.S. stocks stabilized on Wednesday after earnings from a major beer brewer helped the market stem its recent declines. The stock market ended the day little changed after a ... 

  • Renewed fighting in Ukraine rattles stocks

    Renewed fighting in Ukraine rattled markets on Friday. Reports that Ukrainian forces attacked Russian military vehicles that had crossed the border knocked stock markets down ...