New York, USA- Oil prices, which had been in the green for part of the session, They ended up falling on Friday, following in the footsteps of other assets in response to the deterioration in US employment figures for July.
In London, the price of a barrel of Brent crude oil from the North Sea, for delivery in September, fell 3.40% to $76.81.
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For its part, in New York, its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery in the same month, lost 3.65%, trading at $73.52.
The fall followed that of the stock market after the US Department of Labor announced last month a unemployment rate rises to 4.3%, the highest level since October 2021.
Also, only 114,000 jobs were created in July, compared to 179,000 the previous month, a figure revised downwards, and 185,000 expected.
«In times of crisis, oil falls in line with the stock market», commented Matt Smith of consultancy Kpler.
“In addition, the employment report shows that the economy is slowing down, which is negative for oil demand,” the analyst added.
