COMMODITY
Crude oil futures end higher for second session on Thursday
Jul-03-2020

Crude oil futures ended higher for a second session on Thursday buoyed by better-than-expected US job growth in June. The US added 4.8 million jobs in June and the unemployment rate fell for the second straight month to 11.1%. Besides, recent data from the Energy Information Administration that showed a sharp decline in crude inventories in the US last week also continued to support oil prices. Energy markets have been keying in on increases in cases of COVID-19, however, with the US hitting a single-day record of infections of more than 52,000, injecting some concern into crude markets about the impact of protocols to limit the spread on the economy and oil uptake.

Crude oil futures for August gained 83 cents or 2.1 percent to settle at $40.65 a barrel on the New York Mercantile Exchange. September Brent crude rose $1.11 or 2.6 percent to settle at $43.14 a barrel on London's Intercontinental Exchange.

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