The price of a barrel of Brent and Texas oil today, August 6: How much does it cost and how much does it cost?

The price of oil closed the session on Friday with a slight increaseto offset some of this week’s losses thanks to strong job growth data in the United States.

The US Department of Labor has participated The July employment report, which indicated that non-farm payrolls increased by 528,000 jobs, the largest gain since February. secondly, The unemployment rate fell to 3.5%.to pre-pandemic levels.

Although ending the day on the upside, Crude oil closed the week near its lowest level since February. On the other hand, lower prices are supported by concerns about a possible recession, which could cause a drop in fuel demand.

The price of a barrel of Brent and Texas oil today, August 6: How much does it cost and how much does it cost?

With the market closed on Saturday US West Texas Intermediate (WTI) crude rose $0.47, or 0.53%, to trade at $89.01. secondly, Brent crude futures are trading at $94.92 a barrel, up 0.85%, or $0.80.according to OilPrice.com, a website that offers more than 150 oil indices and blends worldwide.

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Both indices closed the week at lower levels close to those recorded in February before the start of the Russian invasion of Ukraine on February 24. according to ReutersAnd the Brent fell about 11 percent compared to last Friday’s close, while West Texas Intermediate crude fell about 8 percent.

Prices fell due to concerns about the impact of inflation on economic growth and demand; However, signs of tight supply may drive the price up again.

Supply fears are expected to increase as winter approaches On December 5th, European Union sanctions banning offshore imports of crude oil came into effect and petroleum products from Russia.

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