Oil Slips on Stimulus Concerns

NEW YORK (AP) -- The price of oil fell slightly Friday as investors weighed the possibility that the Federal Reserve might end its extraordinary economic stimulus measures later this year.

Benchmark crude for February delivery fell 6 cents to $92.86 a barrel on the New York Mercantile Exchange.

The Labor Department reported U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff. The solid job growth wasn't enough to push down the unemployment rate, however, which remained at 7.8 percent last month.

Also, the Institute for Supply Management said U.S. service firms' activity expanded in December by the most in nearly a year, driven by a jump in new orders and hiring. The index measures growth in industries that cover 90 percent of the workforce, including retail, construction, health care, and financial services.

Brent crude, used to price international varieties of oil, was down 91 cents to $111.23 a barrel on the ICE Futures exchange in London.

In other energy futures trading on the New York Mercantile Exchange:

  • Wholesale gasoline lost 4 cents to $2.76 a gallon.
  • Heating oil fell 2 cents to $3.01 a gallon.
  • Natural gas rose 6 cents to $3.27 per 1,000 cubic feet.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2179363, ~/Articles/ArticleHandler.aspx, 9/23/2014 6:28:15 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement