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Brent Oil - Commodity Roundup: Oil sinks along with other risk assets, gold erases early gains
05-08-2024 03:08
Oil and gold prices dropped on Monday in tandem with a broader sell-off in the global equity markets, driven by growing concerns of a recession in the United States. Brent crude oil futures plummeted to under $76 per barrel,
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Dives 5% As U.S. Economy Slows Down
WTI oil is under strong pressure as U.S. Unemployment Rate increased from 4.1% to 4.3%, highlighting the slowdown of the economy. From the technical point of view, WTI oil settled below the previous support at $75.50 – $76.50 and is moving towards the next support level at $71.50 – $72.50.