Crude oil prices fell significantly last week due to concerns about a slowdown in demand triggered by a disappointing U.S. jobs report, which revealed lower job creation than expected.
West Texas Intermediate (WTI) saw a drop of more than 2.00% to $67.20 per barrel, while Brent fell over 2.20% to $70.60, reflecting the market's concerns over economic stability.
OPEC+ has decided to delay increasing oil production in light of weak demand, indicating that major oil exporters are cautious about oversupplying a volatile market.
Geopolitical tensions, particularly between the U.S., Europe, and Iran, could significantly impact energy market stability, especially if new sanctions against Iran are enacted.
Collection
[
|
...
]