Oil headed for a weekly decline before a report that may show U.S. employers hired fewer workers last month than in December. Brent crude’s premium to the New York price is set for the largest weekly gain in a month.
Futures traded near a six-week low after dropping a fifth day yesterday, the longest losing streak since August. The U.S. added 140,000 jobs in January after gaining 200,000 in December, according to a Bloomberg News survey of economists before a Labor Department report today. London-traded Brent’s premium to West Texas Intermediate crude, the U.S. benchmark, widened 30 percent this week to the most since Nov. 12. Full Story
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