At the start of trading on Friday, oil prices fell. U.S. employment data points to higher interest rates for longer and the easing of tensions in the Middle East has eased supply concerns

Brent lost 23 cents, or 0.3%, to $86.88 per barrel at 0037 GMT. U.S. crude fell 25 cents to $82.48 per barrel, also down 0.3%. When it comes to global crude oil supply, Venezuela has lost a key American license allowing this OPEC member to export oil to global markets