Tue, Nov 24 2009
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Oil hovers above $66 after weak jobs data PABLO GORONDIAssociated Press Writer A Labor Department report showed the U.S. economy lost a larger-than-expected 467,000 jobs in June. The unemployment rate climbed to 9.5 percent, a 26-year high. Unemployment in the 16 countries that use the euro spiked to a ten-year high in May, also at 9.5 percent. The dismal economic data undermined investor confidence and sent the Dow Jones industrial average down 2.6 percent Thursday. Most Asian and European stock indexes also were lower Friday. In other Nymex trading, gasoline for August delivery was down 0.73 cent to $1.7835 a gallon and heating oil rose 0.44 cent to $1.7060. Natural gas for August delivery rose 6.4 cents to $3.679 per 1,000 cubic feet. In London, Brent prices slid 27 cents to $66.38 a barrel on the ICE Futures exchange. ___ Associated Press writer Alex Kennedy in Singapore contributed to this report. 
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