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Commodity Daily News
Crude Prices Fall Ahead of U.S. Jobs Report
Friday, 5 Mar 2010
While the price of crude marginally increased in overnight trading, the commodity is still down over 30 cents from yesterday morning. This is largely due to the strong Dollar and the relatively low demand among U.S. consumers. Currently, the commodity is trading around the 80.57 level.
The U.S. Non Farm Payrolls could play a significant part in determining crude prices for the near future. Analysts are predicting that worse then expected NFP figures would likely be bad for the price of crude. High unemployment generally leads to low demand as consumers try to conserve their disposable income. Should the NFP report come in better then expected, demand should increase and drive up prices.
