U. S. crude oil futures ended lower in choppy trading on Friday, as misgivings about the latest government jobs report undermined an early surge to a seven-month high above $70 a barrel.

New York Mercantile Exchange natural gas futures ended higher on Friday, propped up by technical buying after recent attempts to move lower stalled despite mild weather forecasts, record high inventories and softer weekend cash prices.

Crude oil speculators on the New York Mercantile Exchange cut their net long positions slightly in the week to June 2, according to data from the U. S. Commodity Futures Trading Commission released on Friday.

Speculators trimmed the number of net long positions to 39,687 during the week, down from 40,122 in the week to May 26. Crude oil prices rose over the period on expectations of an economic turnaround.

Energy: Crude oil touched $70 per barrel and edge lower. Crude oil prices are witnessing strong resistance at $70 per barrel and we recommend buying crude oil at dips as trend still remains up. Intraday correction of 1-1.5% shall be used as buying opportunity. We continue to remain bullish in Nat gas and expect prices to edge up during the day.