Oil Futures Pare Losses India Stocks Indian stocks stage comeback as oil slides price plunge continues ahead of US jobs data India’s Sensex Rallies After Longest Losing Streak in a Decade News Flybe shares nosedive on profit warning Prices Drop Good at Pump IAG warns over rising fuel despite strong revenue gains and gold prices volatile after Thursday's Commodities Rise Dramatic Capitol Hill the MarketFor Gas Price Solutions rebound Asia heavy selloff Sunoco blames quarterly loss crude outages above $100 traders eye weak market Lytle Looking to Make an Impact Beyond The Octagon Ending Run Investors Abandon Asian markets fall faltering job growth World Markets fretful

Oil futures continued to slide, a day after plunging below $100 a barrel, but prices rebounded from lower levels after a better-than-expected jobs report for April. Declining crude-oil prices help ease inflation concerns in a week that saw the Reserve Bank of India aggressively hike rates to try to contain rising prices. share: digg facebook twitter Oil prices continued to plunge on Friday, slipping to near $97 a barrel as investors worried that a weakening U.S. jobs market may undermine demand for crude in the world's largest economy. The Labor Department said that first-time claims for unemployment benefits rose to 474,000 last week, the highest level in eight months. A stronger dollar, which makes oil more expensive for investors with other currencies, also helped push crude prices down. Some analysts expect oil to resume its rise as political unrest in the Middle East and North Africa could spread and threaten to disrupt crude supplies in the oil-rich region. Indian shares rallied, paring a weekly decline and snapping the benchmark index's longest stretch of losses in a decade, as a drop in oil prices eased inflation concerns and some investors judged the stock slump as excessive. Shares in the UK's biggest domestic airline have nosedived 25 percent after it announced that full-year profits will come in short of expectations. Flybe blamed the failure to hit its forecast on high oil prices and a recent slowdown in consumer spending on air travel.{poll_summary} The drop in oil prices could spell relief for drivers at the gas pump. International Airlines Group, the company formed from the merger of British Airways and Iberia, has become the latest carrier to warn of the threat high oil prices, overshadowing a solid set of figures. The firm said that it expected to lose around €200m more expected this year due to high fuel costs, plus the Japan earthquake and civil unrest in North Africa and the Middle East. However quarterly losses narrowed to €47m, down from a €273m loss a year ago.{poll_summary} Growing concerns about the US economy has fuelled speculation in recent days that the commodities boom could be coming to an end Oil prices inched higher on Friday morning after Thursday's record 10% drop, with investors keeping a wary eye on key US jobs data out later in the day. Renewed worries about supply discruptions in North Africa and the Middle East, together with rising demand from emerging economies, helped the price of Brent crude rise by 0.27%, at $111.10 a barrel, after hitting $111.77 earlier. US crude moved above $100 a barrel before falling back to $99.85. "This looks like a relief rally following the broader sell-off in commodities," Serene Lim, a commodities analyst with ANZ Bank in Singapore told Reuters. "It could go down further - all eyes will be on the US non-farm payrolls data." Wall Street economists are predicting that employers added 185,000 workers in April while the unemployment rate is expected to remain at 8.8%. Other commodities rebounded, with spot silver climbing 2.5% to $35.60 an ounce after a torrid session on Thursday, but that still leaves the it on track for a 26% weekly loss - the biggest since the ... The prices of oil, gold and silver rose slightly on Friday, but investors are still worried about the strength of the global economy. Lawmakers push to bring down gas prices to around $4 per gallon before summer travel season starts * House Passes Bill Making It Easier to Drill for Oil * Oil Plunges on Demand Concerns * Gas Prices Could Slow Job Growth Oil prices rebounded in Asia as traders snapped up bargains a day after New York's main contract suffered its biggest fall in more than two years. Beleaguered motorists are suffering from high oil prices, but they may be surprised to learn that Sunoco Inc., the region's biggest fuel refiner and marketer, shares their pain. (05-05) 22:25 PDT SINGAPORE, (AP) -- Oil prices inched above $100 a barrel Friday in Asia, consolidating after a sharp drop in the previous session amid investor concern a weak U.S. jobs market may undermine crude... Welterweight veteran Chris Lytle is a no nonsense fighter in the Octagon, so not surprisingly, he doesn't mince words when it comes to rising crime rates among the youth of the United States. "It's no mystery, there is no 'why is this happening... Related Breaking News Stories: 1. (Photo) Former Heisman Trophy Winner & NFL Running Back Herschel Walker Set To Make Debut 2. Libya's Impact on Oil Prices 3. Egypt's Impact On The Middle East Fear of an economic slowdown in the United States and the rest of the world pushes down prices for commodities like oil, sugar, coffee and silver. share: digg facebook twitter BANGKOK (AP) — A plunge in commodities and an unexpectedly negative U.S. job growth report rattled investor sentiment in Asia on Friday, sending major benchmarks sharply lower. The drop in oil prices was a boost to airline companies, however. Thursday's pullback in commodities indicated that some speculators were locking in their gains and that other investors were protecting profits because of concerns that Friday's U.S. jobs reports may be worse than originally thought. On Wall Street, stock indexes fell after the Labor Department said that first-time claims for unemployment benefits rose to 474,000 last week, the highest level in eight months. The jump in claims, along with other signs the U.S. economic recovery is losing strength, have raised concerns about what the government's monthly jobs report for April will reveal when it is released Friday. share: digg facebook twitter BANGKOK (AP) — A plunge in commodities and an unexpected rise in U.S. unemployment claims rattled nerves across world markets Friday ahead of a key jobs report, sending most benchmarks lower. The yen's recent rise against the greenback threatens to inflict more pain on the country's export sector, which has struggled with destroyed factories, severe parts shortages and power outages since a devastating earthquake and tsunami on March 11. [...] PetroChina, the country's biggest oil and gas company and the Shanghai benchmark's biggest component, lost 2.2 percent as crude oil prices dipped. Analysts said all was not grim despite the slumping markets: dropping commodities prices might ease the pressure on central banks to take action, such as raising interest rates to slow down the pace of lending and spending to battle inflation. The drop in oil prices was a boost to airline companies: shares of Hong Kong-listed China Southern Airlines Co. Ltd. soared 7.1 percent, while Taiwan's EVA Airways Corp. jumped 5.5 percent and Qantas Airways Ltd. rose 3.4 percent. On Wall Street, stock indexes fell after the Labor Department said that first-time claims for unemployment benefits rose to 474,000 last week, ... share: digg facebook twitter LONDON (AP) — Mounting fears of a slowdown in the U.S. economy unnerved investors Friday ahead of crucial jobs data, with oil prices taking the brunt of the sell-off to extend their biggest one-day drop in two years. Benchmark crude oil for June delivery was down $2.75 at $95.94 a barrel in electronic trading on the New York Mercantile Exchange. An unexpected 43,000 rise in weekly U.S. jobless claims Thursday added to concern about the recovery and suggested that the April payrolls figure may come in below current expectations for 185,000. "[...] another drop in crude oil prices after the 13 percent drop this week to date would have greater implications for rate expectations in the eurozone and undermine the euro further still," said Derek Halpenny, European head of global currency research at The Bank of Tokyo-Mitsubishi UFJ. Investors worried about the renewed strength in the yen, which has the potential to harm the country's exporters, which are already struggling with destroyed factories, severe parts shortages and power outages since a devastating earthquake and tsunami on March 11.
Key Words: oil prices

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