Oil prices dropped, with Brent down 0.6% and WTI up 0.68%, due to weak US employment data and slowing economy concerns.
Oil prices dropped with Brent crude oil agreement price decreasing 0.6% to $86.82/barrel and WTI rising 0.68% to $83.31/barrel. This decline occurred due to concerns over decreased demand due to weaker-than-expected US employment and business data, suggesting a slowing US economy, the world's largest oil consumer. Thinning trading activity due to the US Independence Day holiday also contributed to the decrease in oil prices.
July 04, 2024
3 Articles