Oil rises to near $96 ahead of US jobs data

Oil   Oil
By Pamela Sampson on September 7, 2012

BANGKOK (AP) — Oil prices rose to nearly $96 a barrel Friday in Asia, reversing earlier losses as traders awaited the release of a key U.S. jobs report.

Benchmark oil for October delivery was up 34 cents at $95.87 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 17 cents to settle at $95.53 on Thursday.

Crude was driven as high as $97.71 on Thursday by word that the European Central Bank would buy unlimited amounts of government bonds to help lower borrowing costs for euro nations that are struggling with debt.

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