Crude oil down to 67 dollars on weak US job data
The US stock markets went down today by nearly two percentage points due to weak Job data released by the labor department. The jobless rate hit a 25 year high of 9.5% due to increasing factory closures in automobile and export oriented sectors.
The crude oil prices were also hit due to this negative data and was last seen trading around the 67 dollars mark. Unless there are clear signs of economic revival in US, the crude oil prices cannot be expected to shoot up beyond 80 dollars.