WASHINGTON (dpa-AFX) - Crude oil prices climbed higher on Friday, gaining for a second straight day, after data showed a stronger-than-expected addition of jobs in the U.S. in the month of June.
West Texas Intermediate Crude oil futures for August ended higher by $2.06 or about 2% at $104.79 a barrel. WTI crude futures shed more than 3% in the week.
Brent crude futures settled with a gain of $2.37 or about 2.3% at $107.02 a barrel today.
A report from Baker Hughes said the number of active U.S. rigs drilling for oil rose by two to 597 this week, rising for a fifth straight week.
The total active U.S. rig count, that include those drilling for natural gas, also climbed by two to 752, the data showed.
Data released by the Labor Department today showed non-farm payroll employment jumped by 372,000 jobs in June after surging by a revised 384,000 jobs in May.
Economists had expected employment to increase by 268,000 jobs compared to the addition of 390,000 jobs originally reported for the previous month.
Meanwhile, the report showed the unemployment remained at 3.6% for the fourth month in a row, matching economist estimates.
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