Reuters: Oil edges up on reduced U.S. drilling activity, booming job market

08:55, 12 March 2018
Economy
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REUTERS

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.10 a barrel at 0407 GMT, up 6 cents, or 0.1 percent, Reuters said.

Read alsoOil edges up as U.S. President Trump set to meet North Korea's Kim – media

Brent crude futures LCOc1 were at $65.58 per barrel, up 9 cents, or 0.1 percent, from their previous close.

"A falling rig count and the strong employment data may have helped support prices," said William O’Loughlin, investment analyst at Rivkin Securities.

The U.S. economy added the biggest number of jobs in more than 1-1.5 years in February, with non-farm payrolls jumping by 313,000 jobs last month, the Labor Department said on Friday.

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