Oil steadies ahead of US jobs report
Oil prices held their ground on Friday as investors awaited U.S. employment data, but the commodity was on track for a weekly loss despite a delay to supply increases by OPEC+ producers.
Brent crude futures rose 37 cents, or 0.51%, to $73.06 a barrel by 0958 GMT. U.S. West Texas Intermediate crude futures were up 33 cents, or 0.48%, at $69.48.
For the week, Brent was poised to register a more than 7% decline while WTI was heading for a drop of almost 6%.
U.S. non-farm payrolls data is due at 1230 GMT. After a week of mixed signals on the U.S. economy, the jobs data is expected to be key to the size of any U.S. interest rate cut at the Federal Reserve's next policy meeting over Sept. 17-18.
U.S. service sector activity was steady in August, but private jobs growth slowed, remaining consistent with an easing labour market.
Source: Reuters
