November jobs growth in some other closely watched sectors like construction, wholesale trade, and retail trade was either flat or just a little higher. Speaking of which, you never want to make too much out of any one data point—and the GM strike caused jobs growth to swell in November. However, a few more reports with this kind of growth could have people talking about whether prices see an impact. In recent history, the U.S. dollar has typically had some influence on the crude oil market. Dollar strength often weighs on crude because crude is priced in U.S. dollars and a strong dollar makes crude more expensive for overseas buyers, sometimes depressing demand.

Source: Forbes December 06, 2019 14:26 UTC