Crude oil futures were higher during early European trading hours on Friday, as the release of upbeat U.S. jobless claims data continued to support and as markets awaited a highly anticipated U.S. nonfarm payrolls report later in the trading session.On the New York Mercantile Exchange, light sweet crude futures for delivery in April traded at USD101.82 a barrel during European morning trade, up 0.25%.
The April contract settled up 0.11% on Thursday to end at USD101.56 a barrel.Oil futures were likely to find support at USD100.17 a barrel, Thursday's low and resistance at USD103.53 a barrel, the high from March 5.
On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits fell by 26,000 last week to a seasonally adjusted 323,000 from the previous week’s revised total of 349,000.Analysts had expected jobless claims to fall by 11,000 to 338,000 last week.Market players were looking ahead to Friday’s highly-anticipated nonfarm payrolls report for February, after job growth came in below expectations in December and January.
http://www.investing.com/news/commodities-news/crude-oil-futures-rise-ahead-of-nonfarm-payrolls-data-270934
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