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Oil Drops $2 A Barrel Amid OPEC+ Supply Concerns
(MENAFN- Jordan News Agency)
Amman, August 2 (Petra) – Oil prices declined by approximately $2 per barrel on Saturday, driven by concerns over a potential increase in OPEC+ production.
According to Bloomberg, a weaker-than-expected US jobs report heightened worries about demand prospects.
Brent crude futures dropped $2.03, 2.83%, settling at $69.67 a barrel. US West Texas Intermediate (WTI) crude fell $1.93, 2.79%, to close at $67.33 a barrel, according to Bloomberg.
Despite the weekly decline, Brent crude ended the week with an increase of about 6%, while WTI rose approximately 6.29% over the same period.
Amman, August 2 (Petra) – Oil prices declined by approximately $2 per barrel on Saturday, driven by concerns over a potential increase in OPEC+ production.
According to Bloomberg, a weaker-than-expected US jobs report heightened worries about demand prospects.
Brent crude futures dropped $2.03, 2.83%, settling at $69.67 a barrel. US West Texas Intermediate (WTI) crude fell $1.93, 2.79%, to close at $67.33 a barrel, according to Bloomberg.
Despite the weekly decline, Brent crude ended the week with an increase of about 6%, while WTI rose approximately 6.29% over the same period.
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