Oil Rises as Solid US Jobs Data Pushes Algos to Drop Short Bets
(Bloomberg) — Oil rose as stronger-than-expected US jobs data eased concerns about an economic slowdown that would crimp demand, spurring algorithmic traders to reduce short positions. Most Read from Bloomberg West Texas Intermediate climbed almost 2% to settle above $64 a barrel, notching the largest weekly gain since November. Crude followed equities higher after US … Read more