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Oil steadies with spotlight on EU embargo, U.S. jobs data

February 3, 2023

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Oil prices steadied on Friday as investors sought more clarity on the imminent EU embargo on Russian refined fuels, with prices set for a second weekly loss in the absence of clear signs of demand recovery in top consumer China.

Brent crude futures gained 15 cents, or 0.2%, to $82.32 a barrel by 1301 GMT, having dropped by about 1% in the previous session. U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.2%, at $76.00.

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