(MENAFN- ProactiveInvestors)Crude prices went lower again Friday after a US jobs number smashed expectations making the chance of Fed rate rise in December more likely which pushed the dollar higher. The US created 271000 jobs in October against a forecast of 180000 and 137000 the previous month. Unemployment also fell to 5% the level where the US Federal Reserve considers the economy to be fully employed. It triggered some analysts to question why there should be any delay to raising rates. The strengthening dollar makes commodities denominated by the currency (ie crude) more expensive to holders of other currencies. Thus oil prices fell again today for the third day. Brent futures for December delivery eased 1.032% to US$47.49 while for WTI - the US benchmark futures also fell - down 1.6% to US$44.47 a barrel. Adding to price pressure were recent reports that OPEC doesn't plan to trim output which added to fears over oversupply. Ahead is a weekly update on the number of active US rigs drilling for oil. Yesterday the US Energy Department report confirmed that American oil stockpile has risen for a fourth straight week with the surplus increasing by 2.85mln barrels since last week.
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