Investing.com - Crude oil futures fell on Monday, reacting to data released in the U.S. on Friday that the economy added less jobs in March than expected.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded at USD102.17 a barrel, down 1.10%, down from a session high of 102.53 and up from an earlier session low of USD102.05 in thin holiday trading.
In the U.S., the Bureau of Labor Statistics reported the economy added a net 120,000 nonfarm payrolls in March, well below the range of most market expectations.
The government revised February’s payrolls to 240,000 from 227,000, but cut January's figure by 9,000 to 275,000.
The numbers sparked expectations that the Fed would be grow more inclined to buy assets held by banks to spur the economy.
Such easing measures inject liquidity into the financial system that can find its way into commodities markets and send oil rising, however, the markets shrugged off such talk and determined that the U.S. economy faces potholes on its road to recovery, and may need less oil and fuels to grow.
On the ICE Futures Exchange, Brent oil futures for June delivery were down 0.87% and trading at USD121.76 a barrel, up USD19.59 from its U.S. counterpart.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded at USD102.17 a barrel, down 1.10%, down from a session high of 102.53 and up from an earlier session low of USD102.05 in thin holiday trading.
In the U.S., the Bureau of Labor Statistics reported the economy added a net 120,000 nonfarm payrolls in March, well below the range of most market expectations.
The government revised February’s payrolls to 240,000 from 227,000, but cut January's figure by 9,000 to 275,000.
The numbers sparked expectations that the Fed would be grow more inclined to buy assets held by banks to spur the economy.
Such easing measures inject liquidity into the financial system that can find its way into commodities markets and send oil rising, however, the markets shrugged off such talk and determined that the U.S. economy faces potholes on its road to recovery, and may need less oil and fuels to grow.
On the ICE Futures Exchange, Brent oil futures for June delivery were down 0.87% and trading at USD121.76 a barrel, up USD19.59 from its U.S. counterpart.