FXstreet.com (Córdoba) - Crude oil has gained over $4.50 or 5% on Friday, and recently printed a fresh 2-week high just below $92.00, as optimism after positive US nonfarm payrolls and ISM services PMI triggered a risk-on rally.
At time of writing, WTI is trading up 5.1% at $91.70 a barrel, having hit a high of $91.92 so far. Brent futures climbed over 3% and reached a high of $107.64 a barrel. It last traded around $107.55/bbl.
The nonfarm payrolls report showed the US economy added 163,000 jobs in July, well above the 100,000 expected and reaching its highest since February. Meanwhile the US ISM services PMI rose to 52.6, surpassing expectations.
