Oil Reverses Losses as U.S. Jobs Growth Spurs Demand Outlook
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Oil reversed earlier losses after data showed that U.S. companies added more jobs than forecast in August, spurring confidence for a recovery in fuel demand.
Oil recouped a 1.2 decline for the week after the Labor Department report. Private payrolls that exclude government agencies climbed 67,000, after a revised 107,000 increase in July that was more than initially estimated, the department figures in Washington showed today.