WTI oil for July delivery closed up $1.21 to settle at US$64.58 per barrel, while August Brent crude was last seen US$0.99 to US$66.33.

The U.S. Bureau of Labor Statistics reported the country added 139,000 new jobs in May, down from 147,000 in April but above the consensus estimate for a rise of 125,000 positions, according to Marketwatch. The unemployment rate held at 4.2%.

The better than expected result follows on a Wednesday report that showed U.S. private-sector higher plunged to 37,000 last month, well below expectations for a rise of 110,000 jobs.

Word the Trump Administration will stage trade talks with China next week also offered support. Secretary of the Treasury Bessent, Secretary of Commerce Lutnick, and United States Trade Representative Greer will meet with Chinese officials in London on Monday.

Wildfires in northern Alberta are also tightening supply. Cenovus Energy (CVE.TO, CVE) and Canadian Natural Resources (CNQ.TO, CNQ) this week shut in a combined 274,500 barrels per day of production from oil sands projects as they evacuated personnel from projects threatened by fires.

http://www.mtnewswires.com
Copyright © 2025 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.