Posted: Dec 7, 2012 2:10 PM by Associated Press
NEW YORK - The price of oil is ending the week lower after the latest U.S. jobs report offered a mixed picture of the economy.
Benchmark oil dropped 33 cents to finish at $85.93 per barrel Friday in New York. Brent crude fell 1 cent to $107.02 per barrel in London.
The government says employers added more jobs in November than economists had predicted. The unemployment rate dropped to 7.7 percent from 7.9 percent largely because more people stopped looking for jobs. That means they weren't counted as unemployed.
Meanwhile, Germany's central bank lowered its expectation for economic growth next year. That could affect demand for energy products.
At the pump, AAA says the average price for gasoline is down to $3.37 per gallon. That's nearly 9 cents more than a year ago.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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