Oil Slips on US Unemployment Data, Rebounds on Weak Dollar

摘要

Nymex crude futures rebounded on Monday, the result of a weaker dollar, a buoyant US gasoline market, stronger equities and a broad rally in all commodities. Before prices rallied, however, the market fell back to the $68 per barrel level, a followthrough from Friday's decline that resulted from bleak unemployment numbers (IOD Oct.5,p5). Oil prices did not ignore the weakening dollar for long, and eventually turned around. Moreover, the positive equity markets also lent support to oil.