Commodities: Jobless claims dent sentiment, crude takes the hit

Date: Thursday 19 Apr 2012

Crude oil futures fell on Thursday as investor worries grew on the back of higher-than-expected jobless claims in the US.

Weekly initial unemployment claims fell by 2,000 to 386,000 last week,according to the latest data from the US Labor Department.

The market consensus was looking for a reading of 370,000. However, the previous week's reading was revised higher to 388,000 from 380,000.

The May contract for crude lost 0.39% to settle at $102.27 a barrel on the New York Mercantile Stock Exchange.

Natural gas futures were also lower, down 2.26% at $1.91 per million British thermal units, its lowest finish since September 2001.

Meanwhile, the June futures contract for gold gained 0.11% to $1,641.40 per troy ounce, while silver was also up, having gained 0.93% to settle at $31.78.

Platinum, however, was down 0.08% to $1,581.30 per troy ounce.

NR

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