Crude oil recovered form Yesterday losses
April 8th, 2014
Crude oil dropped during
yesterday trading session due to lower-than-foretasted US Non farm Payrolls
data report on last Friday. In fact the jobs
report showed 192,000 new payrolls added to the economy but it remains slightly
below forecasts. Despite it is a positive number, its impact on the Fed next
action remained neutral.
Furthermore, the crude oil
and Brent crude prices declined after the Libyan government and the rebels reached
an agreement to re-open four ports which were closed for the last eight months.
Today crude oil has
recovered from its previous losses amid expectations of the decrease of oil
suppliers in U.S, renewed tensions between Russia
and Ukraine,
and due to the drop of both European and US stock markets.
Investors attention is
turning to the weekly supply report form the American Petroleum Institute,
release is due tomorrow.
