Aug 23 Reuters Oil prices were little changed on Friday but on track to end the week lower, as weaker U.S. employment data raised concerns over demand, and renewed ceasefire talks in Gaza eased worries about supply disruptions.

Brent crude futures rose 16 cents, or 0.2, to 77.38 a barrel at 0642 GMT, while U.S. West Texas Intermediate WTI crude futures inched up 15 cents to 73.16. Brent futures have fallen about 3 so far this week, while WTI lost nearly 5.

Both benchmarks hit their lowest since early January this week, after the U.S. government sharply lowered its estimate of jobs added by employers in the country this year through March.

That sparked concern about a potential recession in the U.S. hurting demand in the top oil consuming nation, but some analysts say that was an overreaction to the jobs revision.

The recent slump was driven by concerns of a hard economic landing in the U.S. However, data showed the labour market is cooling gradually instead of rapidly slowing. This was supported by signs of robust demand in the U.S., ANZ Research analysts said.

Recent data from China, the top oil importer, has pointed to a struggling economy and slowing oil demand from refiners there. A renewed push for a ceasefire in Gaza between Israel and Hamas also helped ease supply worries and weighed on oil prices.

U.S. and Israeli delegations started a new round of meetings in Cairo on Thursday to resolve differences over a truce proposal.

Some analysts said oil prices…