By Cassie Werber LONDON--Crude oil futures traded mixed in Europe mid Friday morning, struggling for direction after four days of downward movement, as the market awaits macroeconomic indicators. At 1046 GMT, the front-month January Brent contract on London's ICE futures exchange is up 17 cents at $107.19 a barrel. The front-month January light, sweet crude contract on the New York Mercantile Exchange is trading 10 cents lower at $86.16 a barrel. On Thursday, ICE Brent futures fell $1.60 over the course of the day. Ole Hansen, an analyst at Saxo Bank in Copenhagen, said that the falls through December so far continue a "slightly downward sloping range since September," when the monthly high for Brent was $116.88 on Sept. 14. Analysts at Commerzbank pointed out that the drop was significant, writing in a note that "Brent dipped below $107 per barrel for a time, its lowest price for four weeks." Macroeconomic data, rather than market fundamentals, are mainly being blamed for the lackluster market. The European Central Bank yesterday said that euro-zone weakness would likely persist into 2013, giving rise to worries about demand for oil. Saxo Bank's Mr. Hansen predicted that minimal movement would be seen in the market ahead of the release of U.S. non-farm payroll data at 1330 GMT. "It's the 'Sandy' payroll, so you'll be able to find a Sandy angle no matter what the number," said Mr. Hansen, referring to the expected impact of last month's hurricane in the U.S. He said, however, that a poorer growth figure could have some positive effects, pushing the U.S. administration towards a resolution on the upcoming 'fiscal cliff'--the moment on Jan. 1 when scheduled tax increases and spending cuts are due simultaneously to hit U.S. consumers. "If we have a really nasty number in terms of growth it could incentivize both parties to reach and agreement," Mr. Hansen said, adding that it could "refocus their minds. A weak number could be partly blamed on the deadlock." Analysts at VTB Capital said that concerns related to waning demand for crude oil had once again "grabbed the market's attention," with macroeconomic concerns also at the fore. Volatility in the Middle East was yesterday concentrated in Egypt. In Cairo, "tens of thousands" of citizens either supporting or opposing the country's president met in violent clashes that were the biggest since last year's revolution, according to The Wall Street Journal. Although Egypt isn't a major oil producer, it controls the Suez Canal, a major transit route for the world's oil, so the unrest there is watched for any potential affect on supply. The ICE's gasoil contract for December delivery is unchanged at $913.50 a metric ton, while Nymex gasoline for January delivery is up 109 points at 2.6078 cents a gallon.

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