Oil Prices Rise on Expected Stimulus
Crude oil prices rose for the 3rd day in a rose as US data showed poor employment numbers. The US economy failed to generate more new jobs, and investors are speculating that this will force the US Federal Reserve to actively stimulate the economy.
Oil rose 1.1% on Friday as reports showed that businesses hired 96,000 employees in August – down from 141,000 in July. Unemployment is a big political issue, and the system is slow to improve, even as interest rates are at record lows.
Crude Oil October futures closed at $96.36 per barrel – up $0.83.
Brent Oil October futures closed at $114.25 per barrel – up $0.76.
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