CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Oil falls on job data, Iran talks

04-10-2012 09:29 BJT

NEW YORK, April 9 (Xinhua) -- Crude prices fell on Monday as U. S. disappointing job data released on Friday caused recovery concerns and Iran agreed to resume talks with the West on its nuclear issue.

On the first day after the Good Friday holiday, oil market was pressured heavily by the tepid U.S. job report. Nonfarm payrolls rose by 120,000 in March, the Labor Department reported on Friday, far below the economists' average estimate for an increase of 200, 000. After increasing over 200,000 every month since November 2011, the weaker growth in March indicated a slow-down of U.S. economic recovery, causing demand worries in the world-largest economy.

Besides, Iran over the weekend expressed willingness to resume talks with six major countries over its nuclear program in Istanbul April 14. That eased fears of Iran's oil supplies disruption. Since the beginning of this year, fears of rising tension between Iran and the West had led to sharp increase in oil prices.

Some analysts thought the renewed talks could end up with an agreement that would lift sanctions against Iran, while others remained cautious about Iran's relationship with the West, saying the talks could probably end up with nothing.

Light, sweet crude for May delivery slipped 85 cents, or 0.82 percent to settle at 102.46 dollars a barrel on the New York Mercantile Exchange. In London, the oil market was closed on Monday. Brent crude for May delivery dropped 76 cents to 122.67 dollars a barrel in electronic trade.

Editor:Wang Lingfei |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