Prices

Hiring slowdown: US employers added just 126K jobs in March

WASHINGTON (AP) — A weakening U.S. economy spilled into the job market in March as employers added just 126,000 jobs — the fewest since December 2013 — snapping a 12-month streak of gains above 200,000.

The unemployment rate remained at 5.5 percent, the Labor Department said in its monthly report Friday.

Oil

Oil plunges on Iran deal

Source: 
Reuters

Oil prices tumbled Thursday as Iran and six world powers announced the framework for a deal over its nuclear program that could lead to a substantial release of Iranian crude into the market. U.S. benchmark crude lost 95 cents to settle at $49.14 a barrel on the Nymex, while in London Brent slid 3.8 percent, losing $2.15 to finish the trading day at $54.95, Reuters reports.

US trade gap narrows as exports fall but imports drop more

WASHINGTON (AP) — The U.S. trade deficit plunged in February as exports fell but imports dropped even more. The narrower gap could give a slight if temporary boost to U.S. economic growth, which has flagged in recent months.

The Commerce Department said Thursday that the deficit — the amount by which the value of U.S. imports exceeds the value of exports — plummeted 16.9 percent to $35.4 billion from $42.7 billion in January.

Oil

Oil slips as Iran talks carry on

Source: 
Reuters

Oil dropped early Thursday ahead of the Easter holiday weekend, as talks on Iran’s nuclear program continued despite a failure to achieve a breakthrough. U.S. benchmark crude was 40 cents lower to $49.69 a barrel in electronic trading on the Nymex, while in London Brent lost 30 cents to $56.80, Reuters reports.

Oil

Price of crude soars; US stocks ease for second day

The price of oil rose sharply Wednesday on signs that U.S. production growth is slowing, a weaker dollar that makes oil a more attractive investment to overseas buyers, and anticipation that a delay in talks with Iran over its nuclear program could keep Iranian oil off the world market.

Benchmark U.S. crude rose $2.49 to close at $50.09 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.99 to close at $57.10 in London.

Oil

Oil drop continues as dollar, inventories gain

Oil was falling for a fourth consecutive trading day as the dollar climbed and fresh data reflected a continuing build in U.S. crude inventories, which were already at record levels.

A report from the American Petroleum Institute showed an increase of 5.2 million barrels in the week ending March 27, said Myrto Sokou, senior analyst at Sucden Financial in London, adding that the numbers raised fresh concerns about whether U.S. demand might be shrinking.

Oil

Oil down, stocks in late slide

The stock market closed out the first three months of the year Tuesday on a down note, erasing much of the gains from the prior day's big rally.

Oil fell as talks between the U.S. and Iran progressed somewhat, which could lead to more crude on the global market in the coming months.

Oil

Oil drops on higher inventories, strong dollar

Oil prices were falling again early Tuesday as record inventories look set to keep increasing and the dollar gains against the euro and the yen.

“It seems that crude oil prices have been heading for their third consecutive quarterly loss as the strong US dollar and record high levels of crude oil inventories limit any upside potential, prompting investors to another round of heavy sell-off in the market,” said Myrto Sokou, senior analyst at Sucden Financial in London.

Oil

Pickens predicts oil will rebound as rig counts drop

Source: 
The Wall Street Journal

U.S. crude production will slow as the nation’s rig count drops, T. Boone Pickens told The Wall Street Journal, predicting that crude prices will stand around $70 by the end of the year.

Oil

Stocks gain despite slip in oil

Encouraging U.S. economic data and a batch of corporate deals put investors in a buying mood Monday, sending stocks sharply higher.

Energy stocks were among the biggest gainers, bucking a slide in the price of crude oil. The sector rose 2.1 percent, although it's still down 2.7 percent for the year.

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