• WTI oil, as the US labor market data, drives optimism.
• The payroll without farm loses expectations, but the wage escalate remains powerful.
• The indicator of the working force participation becomes higher, supporting the perspective of energy demand.

West Texas Intermediate (WTI) oil prices increased on Friday to around USD 70.80, excited by renovated optimism in relation to the energy demand after the latest labor market report in the United States (USA). While the data on non -Farmy wages (NFP) revealed weaker in January than expected 143 thousand.

Despite the pliable add -ons, the US unemployment rate maintained 4%, adapting to expectations. The wage escalate remained solid, with the average hourly earnings by 0.5% of the month, according to forecasts. The number of year reached 4.1%every year, exceeding the expected 3.9%. In addition, the indicator of participation in the working force brought to 62.6%, which strengthens the expectations of constant economic activity and energy consumption.

It is worth noting that indigent economic data may prompt federal reserves (FED) to consider earlier cuts of rates, and therefore economic activity can develop, which can escalate oil demand and benefit the price.

WTI crude oil is trading above USD 70.50 for a barrel, testing a key resistance level of 71.00 USD. A successful break above this threshold can pave the way for further profits, while immediate support is 70.00 USD. Traders will closely monitor the upcoming macroeconomic development in order to obtain an additional market direction.