Oil prices are climbing after two new reports offered some positive news about jobs, according to AP. Benchmark oil for August delivery gained $1.77 at $98.42 per barrel Thursday morning on the New York Mercantile Exchange. In London Brent crude rose $2.78 to $116.40 per barrel on the ICE Futures exchange. The Labor Department says applications for unemployment benefits dropped last week to the lowest level in seven weeks. And payroll processor ADP says the private sector added 157,000 jobs last month, more than double what economists forecast. The government's weekly report on oil supplies and demand comes out later Thursday. -- SPA
