Oil prices nudged higher in Asia trade Friday, though the near-term outlook remains bearish. Traders are awaiting U.S. non-farm payrolls data later in the day, which could signal firmer near-term demand. That would help trading sentiment as a supply overhang has been the biggest price driver over the past few months. Yet analysts say the downward slide in oil prices probably has more room before hitting bottom. “There is absolutely no fundamental strength now. It does not look like that the market will reverse any time soon,” says Gnanasekar Thiagarajan, director of Commtrendz Risk Management. Brent crude oil on London’s ICE Futures Exchange slipped below $50 per barrel this week and is now trading at $49.84 per barrel, up 32 cents from the previous settlement. On the New York Mercantile Exchange, light, sweet crude futures for September delivery traded at $44.93 a barrel at 0410 GMT, up 27 […]