Oil prices were mixed on Thursday after rallying for the first three days of the week.
U.S. jobs growth surged in February, the Labor Department reported, the clearest sign yet of employment market strength.
"We've had another good week, the market has been toying with resistance around the $37.50 area in Brent. We had a break above but it failed to hold — to me it indicates we could be in a Friday afternoon profit mode," Saxo Bank's head of commodities research Ole Hansen said.
"The psychology seems to have turned in the market and although we may see some profit-taking into the weekend, we potentially could still be moving higher next week."
U.S. crude breached the $35 per barrel level earlier this week, but a settlement above that price would set up markets for another move higher, Again Capital founding partner John Kilduff told CNBC.
"It's a technical trade here," he said. "Employment data was strong, and that speaks to strong gasoline demand we've been seeing."
Charts for Brent and WTI showed Relative Strength Index (RSI) at above 60, heading toward the overbought level of 70. RSI levels spiked as crude prices jumped more than 35 percent from 12-year lows hit less than 2 months ago.