|News||Crude is trading around $82 ahead of the vital US jobs report|
|Analysis||Crude hovered around $82 per barrel as we await the release of the US jobs report later today, where it will strong influence trading especially in the US session.|
Crude today traded above $82 per barrel recording its highest around $82.65 and lowest around $81.87, while it currently is trading around $82.10 per barrel.
Traders are anxiously anticipating the US jobs report that is expected to be released later on today. The Labor Department is expected to show 90 thousand workers hired by private employers in July, higher than the 83 thousand hired in June; where the unemployment rate is expected to rise from 9.5% to 9.6% due to governmental layoffs and the important aggregate jobs figure, the nonfarm payrolls is expected to show a loss of 65,000 jobs.
Crude yesterday traded above $82 per barrel recording its highest around $82.40 and lowest around $81.55 per barrel, closing around $82.15 per barrel. It managed to lose $0.46 as optimistic sentiment spreads throughout the market due to bullish expectations regarding the US jobs report and higher equities and euro.
As for NYMEX as of 03:15 EST; motor gasoline dropped to $217.040 per gallon by record $0.28; heating is trading around $219.610 per gallon gaining $0.43; whereas natural gasoline rose by $0.54 per 1000 cubic feet to record $4.623. In London, Brent futures rose by $0.32 to record $81.870.