Benchmark U.S. crude on Friday rose $4.27 to end the day at $91.40 per barrel in New York. Brent crude, which sets the price for oil imported into the U.S., climbed $3.04, or 2.9 percent, to $108.94 per barrel in London.Prices climbed after the government said U.S. employers added 163,000 jobs in July. Last month's hiring was the best since February, though it wasn't enough to drive down the unemployment rate. Prices for oil and gasoline tend to rise on signs of strength in the economy, which increases energy demand.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts