Oil Prices Hold Gains As US Jobs Data Appears to Support Rate Cuts

Oil was trading down slightly on Thursday but largely holding onto its gains from the previous day, which saw the U.S. benchmark rally over 2.9%. American jobs data are feeding cautiously into optimism that the Federal Reserve remains on track for rate cuts, and another big drawdown in U.S. crude inventories lends further support to crude prices. On Thursday at 11:19 a.m. ET, Brent crude was trading at $84.63, down 0.53%, while WTI was holding onto its gains for the most part at $82.46, down 0.47%, maintaining the narrowing Brent-WTI…