Oil Rebounds From Three-Week Low as U.S. Employment Increases
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Oil rebounded from its lowest price in three weeks after a report showed employment rising in the U.S., the world’s largest consumer of crude.
Crude gained as the Labor Department said the unemployment rate fell to 9.4 percent, lower than forecast by economists. Still, futures are headed for a second weekly decline after gains to a 27-month high of $92.58 earlier this week prompted traders to lock in profits by selling contracts.