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US shares going higher; oil price falls

Last updated: 02:01 14 Nov 2014 AEDT, First published: 03:01 14 Nov 2014 AEDT

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US shares were heading higher after falling earlier as the oil price sank to a new four year low.

It is now below the US$80 per barrel mark. The price of West Texas Intermediate (WTI) is down 0.71% at US$77.16.

It comes after the OPEC oil cartel said demand would fall next year.

Energy stocks in the US were hit with Exxon, for example dropping 1.2%.

Data today showed applications for U.S. unemployment benefits rose more than forecast last week, representing a pause from a recent run of readings close to a 14-year low.

Also in focus was data, which showed claims for unemployment across the pond increased by 12,000 to 290,000 last week.

Now, the benchmark Dow is up 33 at 17,645, while the Nasdaq added three to stand at 4,677. The S&P500 was down one point at 2,037.

In London, FTSE100 was also higher, with financila stocks outside the banks being the star performers.

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