KONTAN.CO.ID - LONDON. Oil prices rose on Friday after strong U.S. jobs data, but were still set for weekly falls as investors sought more clarity on the imminent EU embargo on Russian refined products and more signs of demand recovery in top consumer China. Brent crude futures gained $1.16, or 1.4%, to $83.33 a barrel by 1456 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up $1.30, or 1.7%, at $77.18. The two contracts shed about 1% in the previous session. Brent is poised to register a 3.6% decline this week while WTI is on course for a 2.3% drop.
Oil Surges After Strong U.S. Jobs Data
KONTAN.CO.ID - LONDON. Oil prices rose on Friday after strong U.S. jobs data, but were still set for weekly falls as investors sought more clarity on the imminent EU embargo on Russian refined products and more signs of demand recovery in top consumer China. Brent crude futures gained $1.16, or 1.4%, to $83.33 a barrel by 1456 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up $1.30, or 1.7%, at $77.18. The two contracts shed about 1% in the previous session. Brent is poised to register a 3.6% decline this week while WTI is on course for a 2.3% drop.