Oil prices looked set to snap a seven-week winning streak on Friday as concerns about demand growth in China as its economy slows, and the possibility of higher for longer U.S. rates triggered losses.
Major benchmarks were little changed on Friday, with the U.S. West Texas Intermediate crude up 10 cents, or 0.1%, at $80.49 a barrel, while Brent crude was flat at $84.12 a barrel as of 0205 GMT.
On Thursday, the U.S. Labor Department reported the number of Americans filing new claims for jobless benefits fell in the last week, suggesting the still-tight labour market could prolong the Fed's tightening campaign to cool the economy. Investors fret that higher borrowing costs could impede economic growth and in turn reduce overall demand, including for oil.
China's sputtering economy has whipsawed global financial markets in the past few months, with a property crisis spooking investors amid contagion fears.
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