Oil prices are mixed amid different demand indicators as China's latest data point to a fifth straight month of contraction in the manufacturing sector, while the US PCE index showed inflation in line with economists' expectations.
"Brent crude prices continued to trade sideways this week," analysts at commodities research firm BMI said in a note.
"However, timespreads for Brent futures contracts have widened. The move to stronger backwardation will be supportive of a more bullish stance for prices as markets are pricing in tightening in the months ahead." they added.
Meanwhile, uncertainty over a potential ceasefire in Gaza and expectations that OPEC+ will extend its production cuts into the second quarter continue to weigh on sentiment.
Brent crude was flat at $81.94 a barrel, while WTI was down 0.1% at $78.18 a barrel.
