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International benchmarks for oil prices posted a modest gain on Friday (8 July) as strong US jobs reports boosted optimism among traders about better economic growth and demand in the world's largest consumer of crude oil. However, many analysts feared that prices might resume falling in the coming week given still high inventories levels, especial for gasoline and diesel even at the peak of summer driving season. It appears that market is having hard time to determine the price direction amid mixed data about US oil production activities data, which showed a drop in output but a rise in number of active oilrigs.

WTI closed at $45.41/barrel (+$0.27) August delivery

Brent closed at $46.76/barrel (+$0.36) September delivery