Oil increased 1.6 percent after the Labor Department reported that payrolls dropped 36,000 last month. The total was forecast to fall by 68,000, according to economists surveyed by Bloomberg News. U.S. fuel use, averaged over the past four weeks, was 3 percent higher than a year earlier, an Energy Department report showed on March 3.
“We had a nice spike up on the jobless report,” said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut.
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Oil traded near $74 a barrel as Saudi Arabian Oil Minister Ali al-Naimi said the producer group, which pumps about 40 percent of the worlds oil, will leave output quotas unchanged. Distillate fuel inventories in the U.S., the worlds largest energy user, probably fell as colder weather moved across the countrys north, according to a Bloomberg News survey.
“The hope is of course that oil demand is strong,” Johannes Benigni, chief executive officer of JBC Energy GmbH in Vienna, said in an interview on Bloomberg Television. “With - - - - >

Oil fell to a two-month low after the greenback advanced on speculation the Federal Reserve will increase borrowing costs next year because of an improving economy. Prices have dropped 11 percent since Dec. 1 on the dollars strength and rising U.S. fuel inventories.
“This move lower has been triggered by whats happened in other markets,” said David Kirsch, an analyst with PFC Energy in Washington, an energy strategist to companies and governments. “Market sentiment has shifted and is now focused on the weak fundamentals.” - - - - >

Yet even with 15 million people hunting for work, even with the unemployment rate nearing 10 percent, some employers cant find enough qualified people for good-paying career jobs.
Ask Steve Jones, a hospital recruiter in Indianapolis whos struggling to find qualified nurses, pharmacists and MRI technicians. Or Ed Baker, whos looking to hire at a U.S. Energy Department research lab in Richland, Wash., for $60,000 each.
Economists say the main problem is a mismatch between available work and people qualified to do it. Millions of jobs with attractive pay and benefits that once drew legions of workers to the auto industry, construction, - - - - >

Oil dropped as much as 1.7 percent as the U.S. currency climbed for the first time in five days. Inventories of crude oil, gasoline and distillate fuel are higher than average, according to the Energy Department.
“The rally in energy is looking a little long in the tooth,” said John Kilduff, senior vice president of energy at MF Global in New York. “There isnt any economic data to give the market any strength. The dollar is a bit stronger today, which is weighing on things.” - - - - >

Prices in New York dropped for the first time in five sessions as U.S. stock markets retreated. Futures also declined because of rising U.S. fuel stockpiles. The contract climbed for the week as a lower dollar bolstered the appeal of commodities to investors as an inflation hedge.
“The market failed to sustain the move higher,” said Tom Bentz, a senior energy analyst at BNP Paribas Commodity Futures Inc. in New York. “Oil took out the highs of the last two days, got up to $72.90, and ran - - - - >

Oil futures declined for the first time in three days after the Shanghai Composite Index, Chinas benchmark, tumbled 6.7 percent on a report that the nations banks cut lending. U.S., Asian and European stocks followed the Chinese market lower.
“All of what we are seeing today can be blamed on the Chinese stock-market selloff,” said Tom Bentz, a senior energy analyst at BNP Paribas Commodity Futures Inc. in New York. “The Chinese markets have helped support commodities. Price rises have been based on expectations of increased economic - - - - >

Oil retreated as the Standard & Poors 500 Index lost as much as 1.5 percent, the biggest decline in more than a month. U.S. oil inventories probably rose 1 million barrels last week as refiners processed less crude, a Bloomberg survey of 12 analysts showed before a weekly report tomorrow.
“Your bearish pressures are still there,” said Bill OGrady, chief market strategist for Confluence Investment Management in St. Louis. “The recession probably ended in June, but its going to be a slow global recovery, and these prices - - - - >

Oil declined 1.4 percent as stocks slipped after the Commerce Department said that purchases at U.S. stores decreased 0.4 percent last month. An Energy Department report showed that fuel use fell to the lowest level since May 1999. Prices initially rose when the report showed that U.S. supplies dropped for the first time in 10 weeks.
“We finally get some bullish fundamental news just as the equity market fizzles,” said Tim Evans, an energy analyst with Citi Futures Perspective in New York. “I wouldnt read too much - - - - >

Oil climbed 3.3 percent after equities increased on speculation that the Obama administrations plan to rid banks of distressed assets will spur growth. Stock and commodity markets extended gains after a report showed that U.S. sales of previously owned homes unexpectedly climbed in February.
“Oil is moving higher with the stock market today on the announcement of a plan to buy toxic assets,” said Adam Sieminski, the chief energy economist at Deutsche Bank AG in Washington.
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