Published 08/02/2024 7:43:00 p.m.

Oil settles at 8-month low after disappointing US job numbers

Oil prices are poised for a fourth consecutive weekly decline due to disappointing global fuel demand growth, despite recent increases.
Both benchmarks have fallen approximately 7.3% over the past four weeks, marking the longest streak of losses this year.
Weaker economic data from China and reduced manufacturing activity across Asia, Europe, and the US contribute to concerns about global oil consumption.

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Reuters

Oil settles at 8-month low after disappointing US job numbers

Oil prices fell on Friday, settling at their lowest since January after data showed the U.S. economy added fewer jobs than expected last month, and weak Chinese economic data added more pressure.

08/02/2024 7:25:34 a.m.·United Kingdom

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Global News

Global oil prices set for 4th weekly decline amid demand concerns

Oil prices remained on course for a fourth successive weekly decline as signs of weak growth in global fuel demand outweighed fears of supply disruption in the Middle East.

08/02/2024 11:51:38 a.m.·Toronto, Canada

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RTÉ

Oil prices set for fourth weekly fall on demand concerns

Oil prices rose today but were set for a fourth successive weekly decline, as signs of disappointing global fuel demand growth outweighed fears of supply disruptions.

08/02/2024 7:40:26 a.m.·Ireland

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Financial Post

Oil Heads for Weekly Drop as Demand Woes Offset Middle East Risk

(Bloomberg) — Oil headed for a fourth weekly drop as demand concerns in the world’s two biggest economies overshadowed heightened geopolitical risk.

08/02/2024 1:36:51 a.m.·Canada

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WION

Oil prices plunge as demand concerns and geopolitical tensions bite

Oil is headed for a fourth consecutive weekly slide, as concerns over demand from the world's biggest economies are outweighing increased geopolitical tensions. Brent traded near $80 a barrel after a 1.6 per cent drop in yesterday's session, with West Texas Intermediate below $77. Factory gauges in the US and China both showed a contraction on Thursday, indicating signs of weakness in manufacturing.

08/02/2024 4:12:28 p.m.·Noida, India

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The Epoch Times

Mortgage Rates Drop to 16-Month Low After Disappointing Jobs Report

The two most popular mortgage rates in the United States have fallen to their lowest levels in over a year as a weak jobs report sent U.S. Treasury yields falling. The benchmark 30-year fixed-rate mortgage, the most popular type of home loan, fell to 6.4 percent on Aug. 2, according to the MND Index, which tracks real-time changes in actual lender rates across America. This is the lowest level since April 13, 2023, when the 30-year fixed stood a…

08/02/2024 9:16:51 p.m.·New York, United States

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