Oil prices held up relatively well on Friday considering the stronger-than-expected US jobs report and the resulting strength in the USD and US treasury yields. The data will also likely push back expectations on when the Fed may start cutting rates. However, broader sentiment in the oil market remains bearish. Oil has settled lower for three consecutive weeks and traded down to its lowest since February last week. The bearish sentiment in the oil market is reflected in speculative positioning. The latest data shows that speculators reduced their net long in ICE Brent by a significant 102,075 lots to 45,678 lots as ... (full story)