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Commodity Daily News
Crude Oil Stabilizes Near $80 a Barrel
Friday, 6 Nov 2009
Oil fell to below $80 a barrel on Thursday, as doubts about a recovery in Oil demand outweighed positive economic signals. Oil dropped to an intra-day low of $79.30 a barrel before rebounding to the settlement level of 79.90, which was little changed compared with the previous session.
As for today, traders should pay close attention to the U.S Non- Farm Employment Change report, as it has tended to have a large impact on Crude Oil's prices recently, especially for the short-term.
