Oil Prices Rise as US Reports Surge in Employment

Oil Prices Rise as US Reports Surge in Employment
AP Photo/Richard Drew

Oil prices jumped with the stock market on Friday after the United States reported a surge in employment in its monthly jobs report.

U.S. payrolls rose by 304,000 in January even as the country weathered the longest government shutdown in history.

International Brent crude oil futures were up $1.01, or 1.7 percent, at $61.85 per barrel around 11 a.m. ET (1400 GMT). U.S. West Texas Intermediate (WTI) futures were up 74 cents, or 1.4 percent, at $54.53 per barrel.

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