Jim Van Blaricum - The May crude contracted rebounded by more than $2/bbl Apr. 4 in the New York market as traders ... more

Jim Van Blaricum - The May crude contracted rebounded by more than $2/bbl Apr. 4 in the New York market as traders shrugged off a report that US employment fell in March for the third consecutive month, with 80,000 jobs eliminated, the most in 5 years. Jim Van Blaricum

The US Department of Labor reported the nation's unemployment rate increased to 5.1% from 4.8%—the highest level since September 2005 when employment fell after Hurricanes Katrina and Rita slammed into the central Gulf of Mexico less than 30 days apart. Jim Van Blaricum

Analysts in the Houston office of Raymond James & Associates Inc. said Apr. 7, "Crude continues to rally this morning after the Organization of Petroleum Exporting Countries' secretary-general noted that supplies remain plentiful, although a production cut is likely improbable."

Jim Van Blaricum