CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Oil refreshes multi-year high on Libya conflict, U.S. data

04-02-2011 09:33 BJT

NEW YORK, April 1 (Xinhua) -- U.S. crude oil price on Friday surged and refreshed the highest close since September 2008 on Libya's conflict and U.S. positive economic data.

Light, sweet crude for May delivery added 1.22 dollars to settle at 107.94 dollars a barrel on the New York Mercantile Exchange, ending this week with a 2.4-percent rise.

The U.S. Labor Department said on Friday, the U.S. unemployment rate unexpectedly dropped to a two-year low of 8.8 percent in March. Nonfarm payrolls rose 216,000, more than the economists' expectation of 190,000. A separate report Friday showed U.S. manufacturing expanded at close to the fastest pace in seven years. These positive signs showed the world's largest oil consumer is picking up momentum for the economic recovery, boosting the crude markets.

Oil prices continued to get lifted by conflict in Libya and the Middle East unrest.

In Libya, battles between Muammar Gaddafi's forces and the rebels continued. Bahrain has started to arrest cyber activists and Shi'ites. Protests broke out in Syria after Friday prayers.

In London, Brent crude for May delivery last traded also sharply higher near 119 dollars a barrel.

Total U.S. crude trading volume remained well below the 30-day average, while Brent's volume was also 15 percent below its 30-day average.

Editor:Yang Jie |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program