Investing.com - Crude oil futures were steady on Friday, as market eyed the release of U.S. jobs data later in the day, after data on Thursday showed that the number of people who filed for unemployment assistance in the U.S. fell to the lowest level since January 2008 last week. On the New York Mercantile Exchange, light sweet crude futures for delivery in September traded at USD107.96 a barrel during European morning trade, up 0.05%. The September contract settled up 2.72%, at USD107.89a barrel on Thursday. Oil prices gained ground on Thursday after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 26 fell by 19,000 to a seasonally adjusted 326,000. Jobless claims for the preceding week were revised up to a gain of 345,000, from a previously reported 343,000. Analysts had expected U.S. jobless claims to hold steady at 345,000 last week. The data came after the Federal Reserve on Wednesday gave no indications on whether it will begin to taper its stimulus program in the near future. The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of commodities as it tends to depress the value of the dollar. The U.S. is the world’s biggest oil-consuming country, responsible for almost 22% of global oil demand. Elsewhere, on the ICE Futures Exchange, Brent oil futures for September delivery eased up 0.05% to trade at USD109.60 a barrel, with the spread between the Brent and crude contracts standing at USD1.64 a barrel.

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