Oil extends gains, supported by surprise U.S. jobs report
Monday, 8 July 2019 08:47 WIB |
ENERGY |MinyakWTIBrentMinyak MentahOil,
Crude prices rose on Monday, adding to gains in the previous session on better-than-expected U.S. jobs data, although gains were tempered by worries over the prolonged Sino-U.S. trade war.
Brent crude futures were up 10 cents, or 0.2%, by 00:48 GMT at $64.33. U.S. West Texas Intermediate (WTI) was up 14 cents, or 0.2%, at $57.65 a barrel.
Both oil benchmarks fell last week as concerns about a slowing global economy outweighed risks to supply. Brent fell more than 3% and WTI shed more than 1.5%.
U.S. job growth rebounded strongly in June, with government payrolls surging, the Labor Department's closely watched employment report showed on Friday, suggesting May's sharp slowdown in hiring was probably a one-off.
Employers added 224,000 jobs last month, the most in five months, the report showed.
But the U.S.-China trade war has dampened prospects of global economic growth and oil demand.
Source : Reuters