The EU executive body’s recommended $60/bbl price cap on Russian oil is well below international benchmarks and will need signoff from all 27 member states as well as G7 nations ahead of Monday’s deadline for implementation.
The U.S. reported 116,258 new COVID-19 infections and 611 virus fatalities Thursday.
The U.S. added a greater-than-expected 263,000 jobs in November, leaving the unemployment rate at a low 3.7% and causing concern the Federal Reserve will extend its historic pace of interest rate increases.
First-time jobless claims fell by 16,000 to a total of 225,000 last week, indicating continuing strength in labor markets. Recurring applications, meanwhile, hit their highest level since February, suggesting out-of-work Americans are having more trouble finding jobs.
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