Oil rises 3 percent as the dollar hit from US jobs data

2016/9/2 22:02 110 visits readable

{International: Euphrates News} Oil prices rose 3 percent during trading on Friday as the dollar came under pressure from weaker report from the expected growth of US jobs in August, which pushed commodity prices higher, but futures contracts for crude is moving to end the week on the big losses because of a glut fears supply.

The decline in the growth of US jobs more than expected after two months Mtaliyn of solid gains a moderate increase in wages, which cast doubts on whether the Open Market Committee of the Federal Reserve {Fed} will raise interest rates at its meeting on 20-21 September.

The dollar index, after the jobs report Mmaa making oil and other commodities denominated in the US currency more expensive to holders of the euro and other currencies.

And it awaits traders in the oil market and investors weekly report later Friday from Baker Hughes energy services company for a number of oil drilling rigs operating in the United States. And remained a number of oil drilling platforms without mention last week's highs after over eight weeks in a row change. But traders and investors expect it to continue to rise with the recovery in crude prices.

And ascended International benchmark crude contracts for Brent crude to the nearest $ 1.38, or 3 percent entitlement to $ 46.83 a barrel by 1144 am EDT {1544 GMT} and declining crude oil prices about 6 percent during the week to head towards its biggest weekly loss since late July .

It rose US Brent crude contracts for West Texas Intermediate $ 1.30, or 3 percent, also to $ 44.46 a barrel, heading towards the record decline by about 7 percent this week, the biggest decline since early July.

Oil rose earlier in the session on the back of a Russian statements supports the aspirations of the Organization of the Petroleum Exporting Countries {OPEC} to install production with other producers of oil.

It meets the Organization of Petroleum Exporting Countries, led by Saudi Arabia and other crude exporters in the Middle East with non-OPEC producers, led by Russia in the informal talks in Algeria in the period between 26 and 28 September to discuss the freeze on oil production.