Oil prices were lower today, closing down week over week for their steepest weekly loss in three months. Investors are weighing weak US jobs data as it relates to possible timing of a Fed interest rate cut. Higher for longer rates would curb economic growth in the worlds leading oil consuming nation. US job growth in April slowed more than expected and annual wage gain cooled. “The economy is slowing a little bit,” said Tim Snyder, economist at Matador Economics. “But (the data) gives a path forward for the Fed to have at least one rate cut this year,” he said. WTI traded down $.84 or -1.06% to close at $78.11. Brent traded down $.71 or 0.85% to close at $82.96.