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AP Attributes Oil Price Hike To US Jobs Numbers

From a shameless Associated Press:

Oil extends gains above $103 after US hiring jump

BANGKOK (AP) — The price of oil extended gains above $103 a barrel Monday after a stronger-than-expected jump in U.S. hiring suggested demand for fuels will increase.

This is a small blurb from the AP. But it’s very telling about their mindset. Every bit of news, good or bad, must be put into the service of making Obama look good. No matter how big a stretch they have to make.

Benchmark crude for August delivery was up 18 cents at $103.40 at early afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

The contract on Friday jumped $1.98 to close at $103.22 in New York after the Labor Department reported that U.S. employers added a robust 195,000 jobs in June and many more in April and May than previously thought. The job growth suggests a stronger economy.

Oil has also been pushed higher by instability in Egypt where Mohammed Morsi was ousted as president by the military last week.

Egypt is not an oil producer, but its control of the Suez Canal, one of the world’s busiest shipping lanes, gives it a crucial role in maintaining global energy supplies…

Gee, do you think that could be a factor?

But even though the AP does eventually get around to mentioning the situation in Egypt, that they would even connect the world price of oil to the recent anemic jobs numbers in the US, where most of the jobs were part time or service related jobs, shows their true mission.

Which is to help out Obama every way they can.

This article was posted by Steve Gilbert on Monday, July 8th, 2013. Comments are currently closed.

2 Responses to “AP Attributes Oil Price Hike To US Jobs Numbers”

  1. Petronius

    AP: “Egypt is not an oil producer….”

    That news may come as quite a shock to several US oil companies operating in Egypt:

    http://www.apachecorp.com/Oper.....index.aspx

  2. Last time I could do honest math, every time Congress jiggered the dollar causing it to decrease in value, the price of oil went up. Every time the value of the dollar miraculously rebounded the price of oil went down. It struck me as a Pattern.

    But then, I am a self-taught man. I never learned how to calculate Political-Bootlicker Math.




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