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WTI crude oil increased, while Brent crude oil declined on concerns about the global glut of oil.

 

 

WTI oil price was supported by the U.S. labour market data. The U.S. economy added 223,000 jobs in April, missing expectations for a rise of 224,000 jobs, after a gain of 85,000 jobs in March. March's figure was revised down from a rise of 126,000 jobs.

 

 

The U.S. unemployment rate fell to 5.4% in April from 5.5% in March, in line with expectations. It was lowest level since May 2008.

 

 

Investors are awaiting the release of the number of oil rigs in the U.S.

 

 

WTI crude oil for June delivery rose to $59.28 a barrel on the New York Mercantile Exchange. Brent crude oil for June declined to $64.41 a barrel on ICE Futures Europe.

 

 



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