Crude oil ended Friday after a fluctuating session as the approval of the bailout plan by the U.S. Congress offset the big drop in September employment.
Light, sweet crude for November delivery fell 9 cents to settle at 93.88 U.S. dollars a barrel on the New York Mercantile Exchange.
Initially oil prices tumbled to as low as 91.30 dollars a barrel after the U.S. Labor Department reported a drop by 159,000 in payrolls in September, the largest slide in more than five years. With the U.S. unemployment claims standing at a seven-year high, investors are concerned about the health of the economy.
But the positive expectation that the U.S. House of Representatives would pass the 700-billion-dollar rescue plan lifted the oil prices. Crude futures rose to as high as 96.03 dollars a barrel right before the vote. Price retreated after the Congress approved the bill in the early afternoon.
In London, Brent crude for November delivery fell 43 cents to 90.13 dollars a barrel on the ICE Futures Exchange.
Source: Xinhua
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