FXstreet.com (Barcelona) - Crude oil futures were given a boost following a robust NFP report which signals strength in the US recovery. The front-month crude contract rose to a high of $89.43 a barrel on the release before settling slightly below ever since, yet still up from a daily low around $88.00.
Crude oil continues to be weighed down by a strong US dollar, however positive macroeconomic indicators over the week have spurred optimism in a robust US recover and consequently high oil demand. The NFP report showed the economy adding 103K jobs all coming from the private sector over December, causing the unemployment rate to drop to 9.4%.
