Oil Falls On Gloomy U.S. Jobs Report

Oil plunged on Thursday morning, after an unexpected increase in weekly U.S. jobless claims added to a cautious view from the Fed about the U.S. economic recovery to weigh on prices. As of 10:29 a.m. EDT on Thursday, WTI Crude was down 3 percent at $41.64, and Brent Crude was trading down 2.16 percent at $44.41. The surprise increase of U.S. weekly jobless claims to return to above the 1 million mark weighed on oil prices, as well as on the stock market in New York, which opened lower on Thursday.   Initial claims for unemployment insurance…