How oil futures close out the week today will largely depend on how investors digest today’s jobs data
Sevens Report Analysts Quoted in MarketWatch
Jobs report could decide how oil closes out the week
“How oil futures close out the week today will largely depend on how investors digest today’s jobs data. If it is more ‘market-friendly’ data that points to slowing inflation (specifically wages) and more loosening in the jobs market, oil is likely to rally past the $80/barrel mark,” analysts at Sevens Report Research said in a note.
“Conversely, a ‘hot’ report would likely send futures back towards support in the mid-$70s,” they wrote.
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