Key Points
May 5 (Reuters) - Oil prices held steady in early trading on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand...
Brent crude rose 14 cents, or 0.2%, to $72.64 a barrel at 0002 GMT, while U.S. West Texas Intermediate was up 17 cents, or 0.3%, at $68.73 a barrel after four straight days of losses...
Oil prices were also hurt by a strengthening dollar after the European Central Bank raised rates on Thursday and signaled the need for more tightening a day after the U.S. Federal Reserve also raised rates...
Traders are now focused on the release of U.S. employment data for April later in the day, hoping it could help gauge the health of the economy, as well as comments on monetary policy from St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari at the Economic Club of Minnesota...
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