Oil Prices Trim Gains as U.S. Jobs Data Delays Rate Cut Expectations Oil prices trimmed gains on Friday due to heightened demand concerns after stronger-than-expected U.S. jobs data diminished hopes for an imminent Federal Reserve rate cut. Brent crude rose by 12 cents to $79.99 a barrel, and U.S. West Texas Intermediate increased by 28 cents to $75.83. The robust jobs report suggests that rate cuts may be delayed until at least September, impacting expectations for economic activity and oil demand. Despite this, OPEC+ support from Saudi Arabia and Russia has helped stabilize prices. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Barkin Admits January's Sticky Inflation Rates Complicate Fed's Path Forward READ MORE U.S. Shoppers Defy Expectations: July Retail Sales Exceed Forecasts READ MORE Tech Titans Propel S&P 500 to Unprecedented 5,600 Milestone READ MORE Egypt's Bold Move: $1 Billion in Treasury Bills Launched READ MORE Tether Introduces Gold-Backed Stablecoin Alloy READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment