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Oil treads water ahead of OPEC meeting, nonfarm payrolls

From investing.com

Oil prices moved little in Asian trade on Friday amid caution ahead of key labor data offering more signals on the Federal Reserve’s rate hikes, while uncertainty before an OPEC meeting also kept traders wary of big bets. Crude prices rose sharply on Thursday amid optimism over raising the U.S. debt ceiling, positive Chinese economic data, and a pullback in the dollar. But prices were still set to close the week lower, as persistent concerns over a demand slowdown this year largely offset any positive cues. Focus is now squarely on nonfarm payrolls data due later in the day, which is expected to provide more cues on ... (full story)

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  • Category: Fundamental Analysis