You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Deal reached to sell supermarket chain to ex-CEO
    A New England supermarket chain that has been in turmoil for weeks over a workers’ revolt and customer boycott has announced that the former CEO is buying the company from rival relatives.
  • FBI investigating reports of attacks on US banks
    The FBI said Wednesday it’s working with the Secret Service to determine the scope of recently reported cyberattacks against several U.S. financial institutions.  A report on Bloomberg.
  • IMF chief faces probe for fraud
    PARIS – Christine Lagarde, the chief of the International Mon­e­tary Fund, was put under of­fi­cial investigation for negli­gence in a French corruption probe that dates back to her days as France’s
Advertisement

Oil falls toward $93 ahead of US monthly jobs data

BANGKOK (AP) — The price of crude oil fell slightly Friday, a day after posting its biggest jump since late last year, as traders awaited the release of a closely watched U.S. employment report.

Benchmark crude for June delivery was down 14 cents to $93.85 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

Prices rose more than 3 percent Thursday as the European Central Bank cut its key interest rate to a new low and U.S. unemployment benefit claims dropped. The contract rose $2.96, or 3.3 percent, to finish at $93.99 a barrel, the biggest one-day gain for crude since November.

Later Friday, the U.S. Labor Department will release its monthly employment report for April, which could show whether weak hiring in March was a temporary lull or a more significant trend.

Brent crude, which is used to set prices of oil from the North Sea used by many U.S. refiners, fell 15 cents to $102.62 per barrel on the ICE Futures exchange in London.

In other energy futures trading on the New York Mercantile Exchange:

— Wholesale gasoline fell 0.8 cent to $2.772 a gallon.

— Heating oil fell 0.4 cent to $2.851 a gallon.

— Natural gas fell 3.8 cents to $3.987 per 1,000 cubic feet.

Advertisement