MW: Oil falls 2% on bigger-than-expected jobs plunge
By Polya Lesova
NEW YORK (MarketWatch) -- Oil futures traded down 2% Friday after the Labor Department reported that U.S. nonfarm payrolls contracted by an astonishing 533,000 in November. Economists expected job losses of around 350,000 in November. Crude oil for January delivery fell 92 cents, or 2%, to $42.75 a barrel in electronic trading on Globex. In the previous session, crude tumbled $3.12, or 6.7%, at $43.67 on the New York Mercantile Exchange, the lowest closing level since January 2005.
