London - Oil drifted lower Friday on worries over rebounding US output and before key payrolls data, at the end of a rollercoaster week which saw the market hit five-month peaks.
US benchmark West Texas Intermediate (WTI) for June delivery nudged one cent lower to $58.93 a barrel.
Brent North Sea crude for June reversed 13 cents to $65.41 a barrel in London late morning deals.
"Oil prices are failing to profit from the robust Chinese import data," said Commerzbank analyst Carsten Fritsch.
"Some US oil producers have announced their intention to scale up their drilling activities again at higher oil price.
"The sharp decline in drilling activity in the US was one key reason for the price recovery over the last three months."
Crude futures had fallen heavily Thursday after soaring Wednesday on news of an unexpected slump in US crude reserves.
AFP
