Crude oil managed to end with gains after the news of increase in jobs numbers spurred buying in the benchamrk contract. Light Sweet Crude oil on NYMEX ended with gains of 1.4% at $ 91.4 per barrel on Friday. Energy Information Administration (EIA) said that weekly crude oil inventories again slipped downwards till 27 July. The total inventories were reported at 373.58 million barrels compared to 380.10 million barrels a week before. In another news, latest data showed that Iran was loosing $ 133 million per day due to Oil embargo by US. The total shipments from Iran were down to 52%. National Hurricane Center has issued advisory for tropical cyclone formation that can further spurt the prices of Crude Oil.
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