Oil prices fall as traders await U.S. employment reportMay 3, 2013 - 09:48 AMT PanARMENIAN.Net - The price of crude oil fell slightly Friday, May 3, a day after posting its biggest jump since late last year, as traders awaited the release of a closely watched U.S. employment report, according to The Associated Press. Benchmark crude for June delivery was down 26 cents to $93.73 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. Prices rose more than 3 percent Thursday as the European Central Bank cut its key interest rate to a new low and U.S. unemployment benefit claims dropped. The contract rose $2.96, or 3.3 percent, to finish at $93.99 a barrel, the biggest one-day gain for crude since November. Later Friday, the U.S. Labor Department will release its monthly employment report for April, which could show whether weak hiring in March was a temporary lull or a more significant trend. Brent crude, which is used to set prices of oil from the North Sea used by many U.S. refiners, fell 23 cents to $102.62 per barrel on the ICE Futures exchange in London. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |