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US Jobs Reports Drives Crude Higher - "Our Economic Plan is Working": Biden

OIL

WHITE HOUSE: Biden: "Our Economic Plan Is Working" President Joe Biden has delivered remarks from the White House following today's February jobs reports which showed nonfarm payrolls increased by 311,000 jobs last month.

  • Biden: "People who were staying out of the job market are now getting back into the job market. The share of working age folk in the labour market is the highest since 2008."
  • Biden claims that the American Rescue Plan, "led to the fastest recovery of any major economy in the world" and "lay the foundation for the progress we're seeing today."
  • News of the US job report prompted crude higher today, back into positive territory.
  • Brent MAY 23 up 1.8% at 83.02$/bbl
  • WTI APR 23 up 1.7% at 77.01$/bbl,

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