Oil prices were ticking slightly upward on Thursday following U.S. economic data showing a 1.7% increase in Q2 2022 nonfarm business sector labor productivity. The U.S. Bureau of Labor Statistics (BLS) on Wednesday said output had also increased 3.1%, with hours worked also up 1.4%. Additionally, the number of Americans who applied for unemployment benefits at the end of February fell slightly. The 1.7% increase in labor productivity for Q4 is 1.3% lower than expectations. It also shows that productivity is still lagging. …
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