Oil Set for 3% Weekly Gain on Rising Mideast Tensions, Better US Outlook

OIL PRICE - SINGAPORE. Oil prices edged down in early Asian trading on Friday but were on track to gain more than 3% for the week as U.S. jobs data calmed demand concerns and fears of a widening Middle East conflict persisted.

Brent crude futures fell 9 cents, or 0.11%, to $79.07 a barrel by 0030 GMT. U.S. West Texas Intermediate crude futures were down a cent at $76.09 per barrel.