Oil prices rebounded above 82 US Dollar as the market got a boost from better-than-expected US jobs data. Traders said, New York's main contract, light sweet crude for delivery in April, jumped to a high of 82.07 US Dollars a barrel. It later stood at 81.86 US Dollar, up 1.65 Dollar from previous close. London's Brent North Sea crude for April was up 1.79 Dollar at 80.33 Dollars, after earlier touching 80.53 Dollars. The United States lost 36,000 jobs in February and the unemployment rate held at 9.7 per cent. The report is better than expected by most economists who had forecast 67,000 non-farm job losses and a 9.8 percent unemployment rate.
News On AIR | March 6, 2010 9:51 AM
Oil prices rebound above $ 82