WTI Crude Pares Loss as U.S. Payrolls Rise by Most Since 2012
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West Texas Intermediate crude pared losses to trade little changed after U.S. payrolls rose by the most since January 2012, exceeding forecasts. Brent traded lower after Saudi Arabia extended discounts to Asian buyers.
WTI recouped a loss of 1.2 percent. Employers in the U.S. added 321,000 jobs in November, driving wage gains and highlighting increased confidence that the economy will endure a weakening in global markets. State-run Saudi Arabian Oil Co. extended its discount for Arab Light sales to Asia next month to $2 a barrel below a regional benchmark. That’s the lowest in at least 14 years.