Oil Prices Plummet to 8-Month Low: Global Economic Concerns Weigh on Markets

In a dramatic turn of events, oil prices tumbled on Friday, August 2, 2024, reaching their lowest levels since January. This significant drop was primarily triggered by disappointing U.S. employment data and weak economic indicators from China. The U.S. job market delivered an unexpected setback, with the economy adding fewer jobs than anticipated in July. […]