Oil prices were mostly flat for the day with not much market-moving news. Prices are ending the week much lower as the market looks to balance recession fears with some bullish demand fundamentals and a weaker USD. US services industry activity also contracted for the first time in 2 \u00bd years according to the ISM. Yet the jobs report showed the US economy added jobs at a solid clip in December, giving the Fed some cover to continue more hawkish policy moves. “The oil market might be regaining some composure following the bloodbath earlier this week, but the upside potential remains limited, at least in the near term. The economic outlook is clouded,” PVM analyst Stephen Brennock said. WTI traded up $.10 or .1% to close at $73.77. Brent traded down $.12 or -.2% to close at $78.57.<\/p>\n\n\n\n
Oil prices were mostly flat for the day with not much market moving news.<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n