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Thomson Reuters: August 3 Energy Commentary

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August 3, 2012

FRIDAY, AUGUST 03, 2012

SECTOR COMMENTARY

The energy sector rallied higher today in line with the broader equity markets following a report that showed employers hired the most workers in five months in July, giving a lift to sentiment however at the same time a rise in the unemployment rate to 8.3% kept alive the possibility that the Federal Reserve could provide additional stimulus to the economy.

WTI crude futures jumped $4.27 or 4.9% to $91.40, their biggest one-day percentage gain in five weeks, after an unexpectedly strong jobs growth ...


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