Crude prices edge higher despite job losses in U.S.

09:16, January 09, 2010      

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Crude prices edged higher on Friday despite a worse-than-expected job report from the U.S. Labor Department.

The report said that 85,000 jobs were lost in December while the unemployment rate remained unchanged at 10 percent.

The report sent the dollar lower but boosted oil prices as crude is traded in the U.S. currency.

Crude prices were also supported by the report of a fire at the Come by Chance refinery in Canada.

Light, sweet crude for February rose 9 cents to settle at 82.75U.S. dollars per barrel on the New York Mercantile Exchange.

In London, Brent crude for February delivery fell 13 cents to settle at 81.37 dollars a barrel on the ICE Futures exchange.

Source: Xinhua
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