Subscribe free to our newsletters via your
. Space Travel News .




POLITICAL ECONOMY
Dismal US jobs report, Iran talks weigh on oil
by Staff Writers
New York (AFP) April 5, 2013


Global oil prices fell further on Friday after a dismal US jobs report renewed concerns about the strength of the world's biggest economy and traders kept an eye on Iran nuclear talks.

New York's main contract, West Texas Intermediate (WTI) for May, closed at $92.70 a barrel on the New York Mercantile Exchange, down 56 cents from Thursday.

Brent North Sea crude for delivery in May dived $2.22 to settle at $104.12 a barrel on London's Intercontinental Exchange (ICE).

The highly anticipated jobs market report fell far short of market expectations.

The Labor Department said the United States added just 88,000 jobs in March. The unemployment rate dipped to 7.6 percent from 7.7 percent in February, but only because people dropped out of the workforce.

"Clearly the market was disappointed" in the weak job creation and the shrinking labor pool, said Andy Lipow, an independent analyst.

"With people leaving the workforce, then they don't have the disposable income to spend" and keep up momentum in the economy, Lipow said.

Also in focus were talks under way between Iran and six world powers in Almaty, Kazakhstan.

Iran and the so-called P5+1 -- the five permanent UN Security Council members plus Germany -- failed Friday to reach a breakthrough in the dispute over Iran's contested nuclear program.

Iran insists it is for peaceful purposes but the P5+1, which also includes Britain, China, France, Russia and the United States, suspect it masks a nuclear weapons program. The talks were set to resume Saturday.

The talks also put pressure on oil prices because there was "a little bit of a less geopolitical risk premium," said Bart Melek of TD Securities.

James Williams of WTRG Economics noted that WTI had fallen 4.2 percent and Brent was down 4.1 percent over the prior two days.

"Behind the moves were an increase in US crude stocks and a series of negative economic reports in the US and Europe," he said.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
Outside View: Modest jobs growth expected
College Park, Md. (UPI) Apr 4, 2013
Forecasters expect the U.S. Labor Department to report Friday that the U.S. economy added 193,000 jobs in March. This is in line with the pace of recent months but hardly enough to lower unemployment down to acceptable levels. In the fourth quarter, gross domestic product was up only 0.6 percent, slowed by a drop in inventory build and smaller Pentagon purchases. Those factors aren't li ... read more


POLITICAL ECONOMY
Future Looks Bright for Private US Space Ventures

Europe's next ATV resupply spacecraft enters final preparatio?ns for its Ariane 5 launch

ILS Proton Launches Satmex 8 Satellite for Satmex

When quality counts: Arianespace reaffirms its North American market presence

POLITICAL ECONOMY
Final MAVEN Instrument Integrated to Spacecraft

Used Parachute on Mars Flaps in the Wind

BusinessCom Networks Connects Mars 2013

SwRI study finds liquid water flowing above and below frozen Alaskan sand dunes, hints of a wetter Mars

POLITICAL ECONOMY
Pre-existing mineralogy may survive lunar impacts

Lunar cycle determines hunting behaviour of nocturnal gulls

Ultraviolet spectrograph observes mercury and hydrogen in GRAIL impact plumes

NASA's LRO Sees GRAIL's Explosive Farewell

POLITICAL ECONOMY
'Vulcan' wins Pluto moon name vote

Public to vote on names for Pluto moons

The PI's Perspective: The Seven-Year Itch

New Horizons Gets a New Year's Workout

POLITICAL ECONOMY
The Great Exoplanet Debate Part Four

Astronomers Anticipate 100 Billion Earth-Like Planets

The Great Exoplanet Debate

Astronomers Detect Water in Atmosphere of Distant Planet

POLITICAL ECONOMY
Swiss firm plans robotic mini-shuttle

XCOR Driving Rocket Science Forward With Lynx Suborbital Vehicle

ATK Successfully Ground Tests New CASTOR 30XL Upper Stage Solid Rocket Motor

NASA Turns Up the Heat on Construction of the Space Launch System

POLITICAL ECONOMY
Shenzhou's Shadow Crew

Shenzhou 10 sent to launch site

China's Next Women Astronauts

Shenzhou 10 - Next Stop: Jiuquan

POLITICAL ECONOMY
Collision Course? A Comet Heads for Mars

Dawn remains in silent pursuit of dwarf planet Ceres

NASA's Swift Sizes Up Comet ISON

NASA Scientists Find Moon, Asteroids Share History




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement