Oil Slumps on Weak Jobs Data

- May 19th, 2011

Reuters reports that on Thursday, Oil prices dropped more than $1.

Reuters reports that on Thursday, Oil prices dropped more than $1.

The market news is quoted as saying:

Oil volume was light at a quarter less than the 30-day average, suggesting many traders remained on the sidelines. The oil volatility index .OVX dipped to its lowest since May 5 as demand for options protection ebbed.

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