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LONDON — Crude futures fell back Friday following a sharp rally higher over the last two days, as traders remained cautious ahead of U.S. employment data out later in the day.
The market has been very volatile in the last two weeks as jitters over the wider economic climate has sent prices tumbling.
A string of better-than-expected economic data and action by the European Central Bank to shore up troubled lenders, helped pries stage a sharp rebound, with Nymex crude rising 9% from Tuesday, but uncertainty remains over the health of the global economy and the market continues to seek reassurance from economic data.
