Oil slips, but gains 5% in the week on Kazakh, Libyan concerns

NEW YORK: Oil prices settled lower on Friday, as the market weighed supply concerns from the unrest in Kazakhstan and outages in Libya against a U.S. jobs report that missed expectations and its potential impact on Federal Reserve policy.

Brent crude settled down 24 cents, or 0.3%, to US$81.75 a barrel, while U.S. West Texas Intermediate (WTI) crude was down 56 cents, or 0.7%, at $78.90 a barrel.