U.S. Treasury prices traded within a narrow range on Friday, constrained by a mixed nonfarm payrolls report, though stable oil prices contributed to a slight decline in yields across the curve compared to Thursday's close.

Shortly after 3 p.m. in New York, yields across the curve were down by 1 to 3 basis points. The intermediate part of the curve led the gains, causing the 2s5s30s butterfly spread to narrow by nearly 2 basis points on the day.

The 10-year Treasury yield settled around 4.365%, near the middle of the week's range of 4.314% to 4.462%.

During the U.S. morning session, Treasuries advanced following the release of the April nonfarm payrolls report, which showed slightly weaker-than-expected wage data and an unchanged unemployment rate of 4.3%. By the close, overnight index swaps tied to Federal Reserve meeting dates indicated that the December contract still priced in approximately 3 basis points of rate hike premium, down from 5 basis points at Thursday's close.

In late trading, WTI futures were up 0.6%, showing a muted reaction to renewed tensions and the risk of a fragile ceasefire breaking down between the U.S. and Iran.

The yield on the U.S. 2-year Treasury note fell 1.6 basis points to 3.895%.

The yield on the U.S. 5-year Treasury note fell 2.6 basis points to 4.0147%.

The yield on the U.S. 10-year Treasury note fell 2 basis points to 4.3662%.

The yield on the U.S. 30-year Treasury bond fell 1.2 basis points to 4.9482%.

The yield spread between U.S. 5-year and 30-year Treasuries widened by about 1.2 basis points to 93.17 basis points.

The yield spread between U.S. 2-year and 10-year Treasuries narrowed by about 0.4 basis points to 46.91 basis points.