Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Oil rises slightly to near $85 on stimulus hopes

SINGAPORE (AP) — Oil rose slightly to near $85 a barrel today, clawing back some of a large drop from the previous session amid hope that weak U.S. economic growth may trigger new stimulus measures.

The Labor Department on Friday said the U.S. economy added 80,000 jobs last month, which was fewer than expected and prompted speculation that the U.S. Federal Reserve may implement more monetary stimulus measures known as quantitative easing.

Last week, the European Central Bank and the People's Bank of China both cut lending rates in the bid to boost flagging economic growth.

👋 Looks like you could use more news. Sign up for our newsletters.

* indicates required
New Orleans Public Radio News
New Orleans Public Radio Info