Crude oil near $99
Posted by | Posted in Business News | Posted on 06-07-2011
NEW YORK, July 7 (UPI) — Crude oil prices marched higher in New York Thursday, topping $98 per barrel as the United States added 157,000 jobs in June.
Positive data on jobs helped boost confidence in the market. On the New York Mercantile Exchange, oil prices added $1.90 to reach $98.84 per barrel.
Automatic Data Processing Inc., which compiles jobs data on the private sector, said 157,000 jobs were added to the economy in June. ADP said a month ago only 38,000 jobs were added in May.
ADP releases its report earlier in the week than the Labor Department releases a highly anticipated report that includes private sector and government jobs.
Home heating oil prices added 0.29 cents to $3.1049 per gallon. Reformulated blendstock gasoline prices shed 0.66 cents to $3.1204 per gallon.
Henry Hub natural gas prices rose 2.3 cents to $4.156 per million British thermal units.
At the pump, the national average price of unleaded gasoline rose from Wednesday’s $3.569 per gallon to $3.583, AAA said.
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