Commodities: Oil hit by dollar rally
Oil skidded lower Friday despite a positive read on US jobs as the dollar leapt to its highest versus the yen since June.US light crude for delivery in September closed down $1.01 at $70.93 a barrel in New York, although it had been up above $72 earlier on.
The greenback improved versus the major currencies after the Labor Department said 247,000 jobs disappeared in July, far less than the 320,000 predicted by analysts and the 467,000 reported in June.
It was the least jobs lost in a month since August 2008, while the drop in the unemployment rate to 9.4% from 9.5% last month was the first decline since April last year.
There was also news that the Organization of the Petroleum Exporting Countries (OPEC) increased crude oil production by 100,000 barrels a day in July to 28.57 million barrels a day.
| Name | Price | 1 Day Change | 1 Day % Change | Units |
|---|---|---|---|---|
| Gold | $956.00 | $0.00 | 0.00% | $/troy oz |
| Silver | $14.67 | $0.00 | 0.00% | $/troy oz |
| Palladium | $273.00 | $0.00 | 0.00% | $/troy oz |
| Platinum | $1,281.00 | $0.00 | 0.00% | $/troy oz |
| Cattle | 159.43p | 0.000p | 0.00% | p/kg |
| Pigs | 155.09p | 0.000p | 0.00% | p/kg |
| Lamb | 151.37p | 0.000p | 0.00% | p/kg |
| Brent Crude | $74.56 | +$0.05 | +0.07% | $/barrel |
| Krugerrand | $995.20 | -$7.10 | -0.71% | $/troy oz |
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