Oil slips ahead of U.S. jobs report
PUBLISHED THU, SEP 2 202111:20 PM EDT

Source: https://www.cnbc.com/2021/09/03/oil-markets-us-jobs-report.html

U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $69.75 a barrel at 0200 GMT.

Oil prices dipped on Friday after posting strong overnight gains on a weaker dollar and a bigger-than-expected fall in U.S. crude stocks and were headed for small gains on the week ahead of a highly anticipated U.S. monthly jobs report.

Both benchmark oil contracts jumped 2% on Thursday, putting WTI on track to climb 1.5% for the week, while Brent headed for a 0.3% weekly gain.

Demand is likely to be in focus after the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, this week stuck to their plan to add 400,00 barrels per day (bpd) back to the market over the next few months amid surging Covid-19 cases, analysts said.