Crude oil prices mixed ahead of US jobs data


07/02/2014 09:47 AST

Oil prices were mixed in Asian trade today as investors await the release of US jobs data, while severe winter weather in the country lifted the demand for heating fuel and lent support to prices.

New York’s main contract, West Texas Intermediate (WTI) crude for March delivery, eased 12 cents to $97.72 in late-morning trade, while Brent North Sea crude for March delivery rose 18 cents to $107.37.

WTI crude had at one point yesterday hit a peak of $98.83, its highest level this year, due to buoyant mood ahead of today’s jobs figures.

Kenny Kan, market analyst at CMC Markets in Singapore, said that the prices remain supported by hopes that the non-farm payrolls report will signal “an improvement of the economic outlook’’.

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