Brent crude steady above $117

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GMT - 3 Hours Brent crude steady above $117

Post by εﺓз• » ιη∂αġι яσ¢χ « • on Thu Sep 15, 2011 3:08 pm

SINGAPORE: Brent crude was steady above$117, after earlier touching near a four-week high, as investors awaited an expected positive U.S. March payroll report due later on Friday for clues to demand prospects by the world's largest oil importer.

Brent for May shed 10 cents to $117.26 a barrel at0324 GMT after earlier touching $117.90, the highest price since March 7 and less than $2 from a 2-1/2-year high of almost $120reached in February.

U.S. crude rose 36 cents to $107.08 after earlier touching $107.65, an intraday peak since September 2008.

Oil prices gained traction in the second half of this week after a report on Thursday showed U.S. jobless claims fell last week and data pointed to improving employment in the Midwest.

The U.S. economy probably recorded a second straight month of solid job growth in March, when non-farm payrolls rose by190,000. (Reuters)
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