Crude oil futures fell for the fourth day running on Friday as investors worried about a glut in supplies and the weak demand outlook.

Crude for January delivery fell 33 cents to settle at $85.93 a barrel on the New York Mercantile Exchange.

Earlier in the week government weekly data showed gasoline stockpiles rose the most in 11 years. Crude supplies fell but distillates also rose.

Investors also mulled the day's economic data for the latest snapshot of the US economy. Figures from the Labor Department said the US added a stronger than expected 146,000 jobs last month. The unemployment rate declined to 7.7% from 7.9%.

However disappointing consumer confidence data pressured oil prices. The preliminary University of Michigan-Thomson Reuters consumer sentiment index slipped to 74.5 in December from 82.7 the month before.

Meanwhile over on the ICE futures exchange, Brent crude settled one cent lower at $107.02 a barrel.

It was a good day for gold futures which pushed higher on Friday as investors digested the mixed US economic data.

Gold for February delivery gained $3.70 to settle at $1,705.50 an ounce on the Comex division of the New York Mercantile Exchange.

Silver for March delivery bulked up 2 cents to $33.13 an ounce Friday.



CJ

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