NYMEX-Crude ends nearly 3 pct off on jobless gloom

Nov 6th, 2009 - Reuters

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NEW YORK, Nov 6 (Reuters) - U.S. crude futures finishednearly 3 percent lower on Friday, after government data showingthe unemployment rate at its highest in 26-1/2 years sparkedmore worries about petroleum demand. Losses deepened from Thursday, when oil futures fell in adelayed reaction to midweek's government inventory data showingU.S. total oil product demand over the past four weeks was down4.5 percent from a year ago. [EIA/S] The oil markets ignored signals from Wall Street, which,despite the jobless report, remained up slightly in latetrading, helped by several broker upgrades that offset thedisappointing rise in the unemployment rose to 10.2 percent,the highest since April 1983.

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