Bank Of Baku

Oil prices rise again

Oil prices rise again
# 06 April 2012 07:04 (UTC +04:00)
Baku – APA-Economics. Oil prices rebounded Thursday as traders feared being caught short ahead of a long holiday weekend amid tightening sanctions on Iran, Channel News Asia reported.

The market fretted about Friday’s keenly awaited official numbers on US jobs and unemployment for March, but took courage from an upbeat report Thursday on weekly initial unemployment claims, a sign of slowing layoffs.

New York’s main contract, West Texas Intermediate crude for May, jumped $1.84 from Wednesday’s closing level to finish at $103.31 a barrel.

In London, Brent North Sea crude for delivery in May settled at $123.43 a barrel, adding $1.09.
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