Oil Halts Two-Day Decline in London on Signs of U.S. Jobs Growth
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Oil halted a two-day slide in London, recouping earlier losses after data showed that companies added workers last month in the U.S., the world’s largest consumer of crude.
Brent futures pared an earlier loss of 0.6 percent after a report showed companies in the U.S. added employees in April, signaling the labor market is strengthening. Crude stockpiles probably increased from the highest since November, according to a Bloomberg News survey before an Energy Department report today Yesterday, the American Petroleum Institute said crude inventories climbed for a fifth week.