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Global markets: US jobless claims drop

By Commodity News Service Canada

WINNIPEG, August 11 – The following is a glance at the news moving markets globally.

US JOBLESS CLAIMS MOVE LOWER
US jobless claims in the week ending August 6 dropped 1,000 to 266,000, according to data out of the country on Thursday.

Claims have been below 300,000 for 75 consecutive weeks, which indicates a strong labour force, analysts say.

US IMPORT COSTS INCREASE
US import costs increased 0.1 per cent in July, the fifth consecutive month of gains, according to reports out of the country on Thursday.

Import costs are not seasonally adjusted.

INTERNATIONAL ENERGY AGENCY SAYS CRUDE GLUT OVER
The International Energy Agency (IEA) said crude oil demand is outpacing production from July to September, according to reports on Thursday.

The IEA said the crude glut is finished as balances show no oversupply, and demand is expected to be close to one million more barrels a day than production.

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