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The Imperial Strathcona Refinery which produces petrochemicals is seen near Edmonton

Oil surges after strong U.S. jobs data

Oil prices rose on Friday after strong U.S. jobs data, but were still set for weekly falls as investors sought more clarity on the imminent EU embargo on Russian refined products and more signs of demand recovery in top consumer China.
A view shows oil terminal Kozmino near Nakhodka

Oil prices rebound after opening the year with steep losses

Oil prices rebounded on Thursday after opening the year down more than 9%, the worst yearly start in over three decades, as investors took advantage of the decline to buy futures on expectations long-term fuel demand will remain steady.