Crude prices rebounded slightly Friday as the U.S. dollar fell against other major currencies following bleak employment data.
The Labor Department said the U.S. unemployment rate was up to 6.5 percent from 6.1 percent in September, the highest since March1994. The greenback was down against a basket of currencies on the data.
The International Energy Agency on Friday raised its forecast for the price of oil over the next 20 years, citing rising demand in the developing world as well as surging costs of production.
Light, sweet crude for December delivery was up 27 cents to settle at 61.04 dollars a barrel on the New York Mercantile Exchange.
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