Oil prices rose in late trading on Friday, with Brent crude exceeding $95 per barrel (159 liters).
The development on the oil market was mainly supported by news from the USA about an unexpectedly high number of newly created jobs last month. However, as a result of the developments in the previous days, oil prices are headed for a decline for the whole week. TASR informs about it based on reports from Reuters and Bloomberg.
The price of Brent North Sea crude for delivery in October reached USD 95.06 (92.90 euros) per barrel by 7:19 p.m. CET. Compared to the previous closing, this means an increase of 94 cents. The price of American WTI light oil with the September contract reached USD 89.13/barrel. Compared to the previous close, this represents an increase of 59 cents.
The US Department of Labor announced on Friday that up to 528,000 new non-agricultural jobs were created in the United States in July. This is the most since February and a significantly better result than in June and also compared to market estimates.
However, the previous days brought unfavorable news about the high growth of oil inventories in the US, as well as fears of a recession. This was reflected in the price development during the week, as a result of which a significant decline in both Brent and WTI prices is expected throughout the week.
(1 EUR = 1,0233 USD)