West
Texas Intermediate rose for a second day after slower-than-estimated growth in
U.S. payrolls eased speculation the Federal Reserve will further curtail
economic stimulus in the world’s biggest oil consumer.
Futures
gained as much as 0.2 percent in New York. U.S. employers hired the fewest
workers since January 2011 last month, a Jan. 10 Labor Department report
showed, with payrolls rising 74,000, trailing the median forecast in a Bloomberg
News survey for an 197,000 increase. Iran will curtail its nuclear program and
permit more intrusive inspections beginning Jan. 20 under the terms of an
agreement reached with world powers, President Barack Obama said yesterday.
WTI
for February delivery was at $92.81 a barrel, up 9 cents, in electronic trading
on the New York Mercantile Exchange at 11:05 a.m. Sydney time. The contract
rose 1.2 percent to $92.72 on Jan. 10. The volume of all futures traded was
about 29 percent below the 100-day average.
Brent
for February settlement climbed as much as 39 cents, or 0.4 percent, to $107.64
a barrel on the London-based ICE Futures Europe exchange. The European
benchmark crude was at a premium of $14.79 to WTI. It ended the session at
$14.53 on Jan. 10.
(Source: Bloomberg)
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