April 1, 2011

Oil slashes gains after U.S. payrolls data

Oil prices cut back gains of over a dollar on Friday after stronger-than-expected U.S. jobs data indicated the improving economic recovery of the world's largest oil importer was firmly on track, boosting the dollar. U.S. crude futures were 17 cents higher at $106.89 at 1333 GMT after earlier climbing to $107.84, a level last touched in September 2008. Brent crude for May delivery rose 2 cents to $117.38, the highest level in nearly four weeks.

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