Oil prices mixed before US jobs data

5th August 2011, Comments 0 comments

Global oil prices traded mixed on Friday as the market awaited key US jobs data for clues on the economic outlook and energy demand.

New York's main contract, West Texas Intermediate light, sweet crude for delivery in September, fell 69 cents to $85.94 a barrel.

Brent North Sea crude for September gained 48 cents to $107.73.

Oil closed down more than $5.0 on Thursday, driven by weakening growth in the United States, the world's biggest oil consumer, and worries about European energy demand amid debt contagion in the eurozone.

Traders were on Friday awaiting US jobs data for July due at 1230 GMT.

"US labour market data could cause further trouble today (for prices) should the figures be disappointing and strengthen concerns about the economy," said Commerzbank commodities analyst Carsten Fritsch.


© 2011 AFP

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