Unexpected Job Growth Produces Higher Settlement of Brent Crude and WTI

After a week of sliding prices, oil settled higher on Friday on forecasts of a strong U.S. job growth market.

Brent crude climbed 80 cents to $94.92 a barrel, 11% off last week’s settlement. U.S. West Texas Intermediate crude rose 47 cents to $89.01, off 8% for the week.

The U.S. Department of Labor reported job growth unexpectedly accelerated in July as nonfarm payrolls increased by 528,000 jobs.