Jobless Claims Cause Spike In Oil Prices - Local news, weather, sports Savannah | WSAV On Your Side

Jobless Claims Cause Spike In Oil Prices

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Tampa, Florida -

Triple A reports in its weekly fuel brief that although gas prices fell again last week, oil prices quickly jumped after government reports showed U.S. jobless claims rose less than forecast.  Inventories of crude continue to rise beyond 20-year highs and U.S. oil production remains abundant.  Jessica Brady, a AAA spokeswoman says, "The market is expected to be volatile this week, so it's likely motorists will see little movement in pump prices this week."  Georgia's average of $3.37 rose 3 cents from last week.

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