SINGAPORE (AP) _ Oil prices peaked above $68 a barrel
Friday in Asia as investors looked to a U.S. unemployment
report later in the day for signs of economic recovery.
    Benchmark crude for October delivery was up 44 cents at
$68.40 a barrel at late afternoon Singapore time in
electronic trading on the New York Mercantile Exchange. The
contract Thursday slipped 9 cents to settle at $67.96.
    Oil has traded near $68 a barrel for the last three days
as traders look for clues on the strength of the U.S.
economy.
    The Labor Department later Friday is scheduled to announce
the August jobs report, one of the most closely watched
indicators by investors. Economists expect the unemployment
rate to edge up to 9.5 percent from 9.4 percent, while the
number of layoffs is expected to slow to 225,000 from
247,000.
    «If we get a good jobs number, oil could be back up over
$70,» said Gerard Rigby, an energy analyst with Fuel First
Consulting in Sydney. «But in the last week, the market
has been ignoring a lot of the positive economic news.»
    Trading will be closed in the U.S. on Monday for the Labor
Day holiday.
    In other Nymex trading, gasoline for October delivery was
steady at $1.80 a gallon, and heating oil rose 0.55 cent to
$1.74 a gallon. Natural gas fell 3.2 cents to $2.48 per
1,000 cubic feet.
    In London, Brent crude was up 28 cents at $67.40.