(RTTNews) - The price of crude oil was firm Friday morning as traders await cues from the non-farm payroll report from the U.S. Labor Department, due out later today.
Light Sweet Crude Oil (WTI) futures for December delivery, added $0.59 to $94.66 a barrel. Yesterday, oil rose back to a 3 -month high, gaining nearly 2%, after Greece backed away from a referendum on their participation in a rescue by their European neighbors, increasing hopes that that Europe may avert a recession or full-blow sovereign debt crisis.
This morning, the U.S. dollar was flat versus the euro and sterling, while ticking higher versus the Swiss franc and easing against the yen.
In economic news from the euro zone, producer prices increased more than expected in September, data from Eurostat showed. The producer price index rose 0.3 percent month-on-month following a 0.2 percent decline in August. Economists were looking for a 0.2 percent rise.
Trader will look to the October jobs data from the U.S. Labor Department due out at 8.30 a.m. ET. Economists expect the non-farm payrolls to increase by 90,000, while they expect the unemployment rate to remain unchanged at 9.1 percent.
