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Oil holds above $100 per barrel as US economy continues to add jobs
NEW YORK (AP) ' Oil prices are up slightly after the government said the unemployment rate dropped to the lowest level since March 2009.
Benchmark crude rose 20 cents on Friday to $100.40 per barrel in New York. Brent crude fell 11 cents to $108.60 in London.
Prices jumped earlier in the day after the government reported that the unemployment rate dropped last month to 8.6 percent. With more people working, gasoline demand should rise.
Traders also noted that the surprising dip in the unemployment rate included 300,000 people who gave up searching for jobs along with the 120,000 jobs that were added to the economy.
At the pump, gasoline prices fell less than a penny to a national average of $3.286 per gallon.