Oil falls below $95 after US jobs report

NEW YORK -The Associated Press

AFP photo

The price of oil is falling after the government reported the U.S. added fewer jobs than expected last month.
 
Benchmark crude is down 59 cents to $94.94 a barrel around 10 a.m. Eastern (1400 GMT) Friday. Before the jobs report, oil was gaining as traders remained confident that the European Central Bank’s latest bond-buying plan will go a long way to resolving Europe’s debt crisis.
 
U.S. employers added 96,000 jobs last month, a weaker-then-expected figure. The unemployment rate fell, but only because some Americans stopped looking for work.
 
The government also said Friday that fewer jobs were created in July and June than first estimated. The economy has added just 139,000 jobs a month since the start of the year.