Oil prices recover on US jobs data, Ukraine concerns

Oil prices recovered Friday on better-than-expected U.S. jobs data and escalated concerns over Ukraine. The Labor Department on Friday reported that total non-farm payrolls rose by 288,000, the largest gain since January 2012 and topping analysts' expectations of around 210,000. The unemployment rate also fell by 0.4 percentage point to 6.3 percent in April, the lowest level in five and a half years. Oil prices climbed further as worsened Ukraine crisis triggered fears of less oil supply. The Ukrainian government on Friday reportedly launched an operation in the eastern town of Sloviansk against pro-Russian activists. In addition, U.S. President Barack Obama said Friday that the U. S. and Germany are prepared to impose broader sanctions on Russia if it continues to destabilize Ukraine. Among other data, new orders for manufactured goods went up 1.1 percent in March, the Commerce Department said Friday. Light, sweet crude for June delivery rose 0.34 dollar to settle at 99.76 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery increased 0.83 dollar to close at 108.59 dollars a barrel.