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Oil trading higher
This morning in New York WTI crude oil futures increased by 0.19% to $ 43.26 and Brent rose by + 0.15% to $ 45.52 per barrel. Thus, the black gains moderately on the background of cautious trading ahead of NFP, which will help to assess the state of the world's largest economy and the leading oil consumer.
Raising rates could strengthen the dollar, which would have a negative impact on the price of oil, making oil more expensive for holders of other currencies.
In addition, analysts are more skeptical that OPEC and other producers, including Russia, will be able to agree on a production freeze at the meeting in Algiers in September.
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