Oil slips, but set for weekly gain on Kazakh, Libyan concerns | Reuters
Oil prices settled lower on Friday, as the market weighed supply concerns from the unrest in Kazakhstan and outages in Libya against a U.S. jobs report that missed expectations and its potential impact on Federal Reserve policy.
Brent crude settled down 24 cents, or 0.3%, to $81.75 a barrel, while U.S. West Texas Intermediate (WTI) crude was down 56 cents, or 0.7%, at $78.90 a barrel.
Brent and WTI were on track for gains of about 5% in the first week of the year, with prices at their highest since late November, spurred on by the supply concerns.
"Employment data injected a question mark into where we are going from here and Omicron fears have crept back into the market," said John Kilduff, a partner at Again Capital Management.
No comments:
Post a Comment