Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Crude Falls Ahead Of US Jobs

ByICN.com
Published 09/06/2013, 04:00 AM
Updated 07/09/2023, 06:31 AM

Crude oil fell on Friday, hovering just above the $108.00 a barrel level, amid rising caution ahead of the US key jobs data that will provide clues on when the Federal Reserve will start cutting its massive bond-buying program.Crude however is set to end the week in gains supported by concerns of a potential US military strike on Syria that may spread the unrest in the Middle East and disrupt supply. Obama is searching for backing from allies while at the G20 summit in Russia.

“Syria is the focus and the way that the incursion occurs will dictate how oil will behave. There will be a spike. The event to push it through $112.50 is going to have to be pretty huge”, said Jonathan Barratt.

- Crude is trading around $108.30 a barrel after falling $0.07

- Brent is trading around $115.17 a barrel after falling $0.09

President Obama is also seeking approval from Congress before taking action against Syria after the Senate Foreign Relations Committee voted for a restricted operation. U.S. lawmakers are scheduled to reconvene on September 9. Obama is facing growing pressures from Russian President Vladimir Putin, and other world leaders not to act, as many fear a strike would push oil prices higher, thus hurting the global economy.

Crude inventories fell by 1.83 million barrels to 34.8 million last week, according to the Energy Information Administration report. Gasoline stockpiles decreased by 1.83 million barrels, while distillates inventories increase by 549,000 barrels.

- Natural gas is trading at $3.56 per cubic feet after falling 0.42%

- Gasoline is trading at $2.8318 per cubic feet after falling 0.15%

- Heating oil (diesel) is trading at $3.1341 a gallon after falling 0.18%

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.