MW: Crude-oil futures rise in wake of payrolls data
November contract extends week’s advance past $83 a barrel
By MarketWatch
NEW YORK (MarketWatch) — Crude-oil futures rose 1.4% Friday, pivoting away from earlier losses as energy traders reacted to U.S. jobs data that showed growth in nonfarm payrolls coming in better than forecast.
In recent action, west Texas intermediate for November delivery CL1X +1.33% rose $1.12 to $83.71 a barrel, its highest level in two weeks.
The U.S. added 103,000 nonfarm jobs in September, larger than the 59,000 gain expected by Wall Street economists polled by MarketWatch. Read more on nonfarm payrolls and flat jobless rate for September.
Crude futures have bounced back from lows near $75 a barrel in the past three days, as a bullish U.S. inventories report for last week helped fuel big gains on Wednesday and Thursday.
