Positive Jobs Numbers - Boon for Energy
The Labor Department's reports that US unemployment rate dropped to 8.3 percent and that jobs increased by 243,000 in January was bullish for much of the energy complex.
Light, sweet crude for March delivery on the NYMEX gained one and one-half percent, or $1.48, to $97.84 per barrel. March futures for Brent crude also responded favorably and finished at $112.15 per barrel--a gain of $2.51 or two percent above Thursday's close.
Among refined products, March reformulated gasoline blendstock also traded up nearly two percent finishing up four cents to $2.9144 per gallon.
Natural gas gave back its gains from yesterday and finished at $2.499 per MMBtu, eight percent lower than where it started the week.
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