Brent crude futures rose 67 cents to $77.89 a barrel at 0932 GMT, while U.S. West Texas Intermediate crude futures inched up 69 cents to $73.70
Oil prices firmed on Friday but were on track to end the week lower, as weaker U.S. employment data raised concerns over the health of the world’s largest oil consumer, and renewed ceasefire talks in Gaza eased worries about supply.
That sparked concern about a potential recession in the U.S. hurting demand in the top oil consuming nation, but some analysts say that was an overreaction to the jobs revision. “But a double-decker half point percentage cut goes against how the Fed wishes to manage a controlled move away from tightening,” he added.
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