Oil prices ticked up on Friday as investors balanced a sharp drop in U.S. crude inventories and OPEC+ production delays against mixed U.S. employment data. Brent crude futures rose 0.26% to $72.88, while U.S. WTI futures gained 0.32% to $69.37.
"Crude edged higher as bullish signals outweighed recent bearish sentiment," said ANZ analyst Daniel Hynes, noting that a weaker dollar also boosted commodity prices. Despite recent dips, crude prices found support from a 6.9 million-barrel stockpile draw, OPEC+ production delays, and a softening labor market impacting the dollar, making oil more attractive for foreign buyers.
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