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Oil falls with the rise of the dollar, ending the week on a loss of more than 4 percent
07.11.2015
Oil prices fell futures for the third straight session, registered the third decline in four weeks with the rise of the dollar support from expectations for an increase in US interest rates before the end of the year, after data showed strong growth of jobs in the United States.
And end Brent and US crude week on the loss of more than 4 percent after the rise of the dollar has led to the worsening atmosphere of pessimism in the oil markets raised by the data from the US government on Wednesday showed a sixth weekly increase in commercial crude stocks in the United States.
With his rise 5 percent since October, the dollar hit its highest level in seven months against a basket of major currencies after the US jobs data.
The US Labor Department on Friday that the world's largest economy created 271 thousand jobs last month, the largest monthly increase in nearly a year. The unemployment rate fell in the United States to 5 percent, the lowest level since April, 2008.
This strong increase in jobs makes it more likely that the US central bank to raise interest rates in December, giving further support to the dollar makes commodities denominated in the US currency more expensive to holders of other currencies.
And it ended the international Brent crude contracts for the nearest maturity low trading session 56 cents or 1.17 percent to a record settlement of $ 47.42 when a barrel and end the week on a loss of 4.3 percent.
And US crude futures fell 91 cents or 2.01 percent to close at 44.29 dollars a barrel extended its losses this week to 4.7 percent. Ended 29/4 e
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