Brent crude oil rose $1 a barrel on Friday in choppy trade as data pointing to modest gains in U.S. hiring gave U.S. stock markets a boost, taking crude along for the ride.
The United States added 175,000 jobs last month, Labor Department data showed, just above the median forecast in a Reuters poll.
Investors read the figure as low enough to soothe concerns that the U.S. Federal Reserve might end its stimulus efforts sooner than expected. All three major U.S. stock indexes traded up around 1 percent by mid-afternoon EDT.
The unemployment rate ticked a tenth of a percentage point higher to 7.6 percent, with the increase seen as encouraging since it was driven by more workers entering the labor force.
Brent crude was last up about $1 to trade near $105 a barrel, while U.S. light, sweet crude last rose $1.30 to trade above $96 per barrel. Brent was on track to post its strongest weekly gains since July 220, 2012, rising 4 percent, while US oil was heading for the strongest weekly gain since April 26 at 4 percent.