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Crude Oil Holds Below $74

Crude oil prices were flat Monday morning after strong gains in the previous session.

Oil rallied Friday despite Baker Hughes saying the number of active U.S. rigs drilling for oil rose by 5 to 863 last week.

WTI light sweet oil is down 10 cents at $73.73

Employment in the U.S. increased by more than expected in the month of June, according to a report released by the Labor Department on Friday.

The report said non-farm payroll employment jumped by 213,000 jobs in June after surging up by an upwardly revised 244,000 jobs in May. However, the unemployment rate rose to 4.0 percent in June from 3.8 percent in May, as temporary school jobs ended for the summer.

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