Oil News

Crude Oil falls below $70 as investors wait for the U.S employment figures

Crude Oil falls below $70 as investors wait for the U.S employment figures

Oil fell below $70 a barrel on Friday due to concerns about the strength of the U.S. economy ahead of key employment data, while tensions between the West and Iran over the OPEC member’s nuclear plan eased. “There is a bit of caution over the U.S. economic data which has been softer than expected,” said Mark Pervan, senior commodity strategist at ANZ in Melbourne, adding that oil demand remained weak between the end of the U.S. driving season and the start of winter. Crude is trading at $69.50 as of 11:40am, London Time.

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