Crude oil tumbles on weak U.S job-losses and an upbeat dollar

Crude’s Pool-Position is 76% Long, meaning that most Finotec clients are buying the commodity

Crude’s Pool-Position is 76% Long, meaning that most Finotec clients are buying the commodity

U.S. crude oil futures fell more than 2 percent on Thursday on a report showing the number of U.S. workers filing initial jobless benefit claims unexpectedly rose last week and on the dollar’s rise against the euro. Crude futures felt some pressure on Wednesday, despite a U.S. Energy Information Administration oil inventory report showing fuel stocks fell last week, as the report also showed crude stocks rose and fuel demand remained weak. Crude oil is trading at $73.10 as of 21:23pm, GMT, with a bullish trend. Crude’s Pool-Position is 76% Long, meaning that most Finotec clients are buying the commodity.