6th December 2013
West Texas Intermediate (WTI) crude oil has been volatile in commodities markets today (December 6th).
This is ahead of the publication of the November non-farm payrolls report, which will show the number of jobs added by American employers last month and is expected to have a strong influence on the Federal Reserve's actions regarding its quantitative easing programme.
After rising for a fifth successive session yesterday, crude oil futures swung between gains and losses of around one per cent today.
WTI for January delivery was down by 14 cents to $97.24 per barrel in electronic trading on the New York Mercantile Exchange as of 10:20 GMT.
Brent for January settlement gained 45 cents to $111.43 per barrel on the ICE Futures Europe in London. This took the spread between the two benchmarks to $14.32, from $13.60 yesterday - the narrowest closing value since November 19th.
Earlier this week, data released by the Energy Information Administration showed crude inventories in the US declined for the first time in 11 weeks.
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