The Traderszone Network

Published in TZ Latest News 8 March, 2015 by The TZ Newswire Staff

Brent drops toward $59 as dollar firms on U.S. jobs data

Brent crude fell toward $59 a barrel on Monday as a promising U.S. jobs report pushed the dollar up, offsetting geopolitical tensions and the threat of output cuts in Libya and Iraq. Goldman Sachs (GS.N) said in a note that oil prices would reverse recent gains on rising global inventories, with U.S. crude expected to drop to around $40 a barrel.