7th March 2014
US crude oil prices have gained ahead of the release of non-farm payrolls (NFP) data later today (March 7th).
As of 9:40 GMT, Western Texas Intermediate crude oil was up 0.24 per cent to $101.80 per barrel. Meanwhile, Brent crude oil rose 0.01 per cent to $108.11 per barrel.
The NFP report is due for release this afternoon and is expected to show an increase in hiring activity and fall in unemployment in the US.
Jobs growth was lower than expected in December and January - partly due to bad weather conditions - and it is hoped the publication of February's data will show the country's economy is back on track.
Oil futures have also gained as a result of the ongoing uncertainty in Ukraine. Concerns the crisis may spill out into military conflict with Russia have seen investors turn to oil due to fears over supply.
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