WASHINGTON (dpa-AFX) - Oil prices held steady on Friday but faced the worst week since October 2023 on persistent concerns about soft demand and signs of ample supply.
Benchmark Brent crude futures were little changed at $72.72 a barrel, while WTI crude futures were down 0.2 percent at $69.03.
Prices were pinned near a 14-month low as demand worries overshadowed a big withdrawal from U.S. inventories and a delay to output increases by OPEC+ producers.
Brent crude futures were on track to slump nearly 8 percent for the week and WTI contract was headed for a weekly drop of almost 6 percent due to worries about U.S. and Chinese demand.
A weaker dollar offered some support before pivotal payrolls data due later in the day that could influence the Fed's rate trajectory.
U.S. private payrolls data released on Thursday showed the weakest growth since 2021, heightening fears of a slowing labor market.
However, weekly jobless claims declined and acidity in the key services sector rose for a second straight month, giving traders some respite from economic worries.
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