Oil prices steadied on Thursday as economic optimism from data showing that the U.S. service sector and retail sales improved was tempered by disappointing news from the labor market.

U.S. crude prices for October delivery rose 2 cents to $68.07 a barrel by 11:44 a.m. EDT (1644 GMT), after earlier reaching a high of $69.40 on U.S. stock gains and a weaker dollar.

London Brent crude was down 32 cents at $67.34 a barrel.

“Right now, there’s not a whole lot of momentum here in either direction. I think the trend for the week, which has been down, is still in force,” said Tom Bentz, senior commodity analyst, BNP Paribas commodity Futures Inc in New York.

“Everything seemed to kind of slip right after the jobs data,” he added.

U.S. jobless claims fell last week, according to a report released by the Department of Labor on Thursday, but the prior week’s figure was revised up.

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Oil prices fell below $69 a barrel on Tuesday as economic concerns sent investors into safer havens, outweighing positive U.S. manufacturing and home sales data.

U.S. crude for October delivery fell $1.39 to $68.57 a barrel by 1:32 p.m. EDT (1732 GMT).

London Brent crude dropped $1.38 to $68.27.

U.S. stocks dropped as investors’ confidence in the economic recovery wavered.

“The dollar is strengthening and equities are coming off hard so (oil futures) did the same,” said Tom Knight, trader at Truman Arnold in Texarkana, Texas.

Meanwhile, the U.S. dollar rose as the slide in the U.S. stocks boosted the currency’s safe-haven appeal.

Oil futures had risen earlier in the day as the market focused on a report showing a jump in U.S. manufacturing and pending home sales.

“It looks like the whole complex is failing to sustain the gains … basically, the market’s not done yet on the downside,” said Tom Bentz, senior commodity analyst, BNP Paribas Commodity