Oil traded lower for a second day today as crude futures declined from the highest levels since October 2008 as job numbers in the US came out worse than expected. The number of individuals who filed for unemployment insurance for the first time during the past week in the US rose to 445k, the highest level since October.
Friday, January 14, 2011
Commodities Outlook | 14 January 2011
Commodities Outlook | 14 January 2011
Crude for February delivery declined as much as 52 cents to $90.88 a barrel in electronic trading on the New York Mercantile Exchange. Crude remains close to this level at 0915GMT, with oil seen testing support at $90.40. Read more
