U. S. crude oil futures ended slightly higher on Friday, in a cautious response to economic data which showed that while unemployment soared to a 26-year high in August, there were fewer jobs lost than expected in the month. U. S. natural gas futures rose nearly 9 percent on Friday, boosted in some preholiday short covering after the front month slid early to a 7-1/2 year spot chart low.

Crude oil speculators on the New York Mercantile Exchange reduced their net long positions in the week to Sept. 1, the Commodity Futures Trading Commission said in a report on Friday.

High inventories and the risk of a price slide will trouble OPEC ministers in the meeting on Sep 09, but oil at close to $70 a barrel is expected to convince the group to hold output steady.

Hovensa LLC said an export halt ended at its St. Croix refinery after the U. S. Coast Guard reopened all U. S. Virgin Islands shut by Tropical Storm Erika. BP Plc is shutting an ultra cracker unit at its Texas City, Texas, refinery for maintenance.

Oil prices have recovered sufficiently to allow Russian companies to resume investment programmes interrupted by the economic downturn, the head of Russia's largest privately owned oil producer said on Friday. "The price of a barrel is beginning to return to the pre-crisis level," LUKOIL President Vagit Alekperov said.

Crude oil is expected to trade firm during the day. We may see some upside in crude oil following the positive sentiments and rise in equities.