NEW YORK -- Crude prices traded higher Friday on renewed concerns after Israel raised new concerns about Iran's nuclear program.
Israeli Deputy Prime Minister Shaul Mofaz, a hawkish former defense minister, said that Iran's nuclear program was poised to make a "major breakthrough" and that his country must be "prepared for every option."
U.S. government data showed employers cut 51,000 jobs in July against an expected loss of 72,000. Meanwhile, the Institute for Supply Management said its manufacturing index fell slightly from June's reading, but came in better than economists expected.
Light, sweet crude jumped as high as 128.60 U.S. dollars a barrel in the early session on the New York Mercantile Exchange, then pulled back to settle at 125.10 dollars.
Israeli Deputy Prime Minister Shaul Mofaz, a hawkish former defense minister, said that Iran's nuclear program was poised to make a "major breakthrough" and that his country must be "prepared for every option."
U.S. government data showed employers cut 51,000 jobs in July against an expected loss of 72,000. Meanwhile, the Institute for Supply Management said its manufacturing index fell slightly from June's reading, but came in better than economists expected.
Light, sweet crude jumped as high as 128.60 U.S. dollars a barrel in the early session on the New York Mercantile Exchange, then pulled back to settle at 125.10 dollars.
