Crude oil prices fell last night (September 3) after the weak U.S. labor market figures disappointed investors. The weak figures point to a slowdown in economic growth and that the delta variant is still a source of uncertainty.
Brent crude futures fell 0.6%, or 42 cents, to $ 72.61 a barrel. Despite Friday’s drop, prices rose 1.3% this week.
WTI crude futures fell 1%, or 70 cents, to $69.29 a barrel. However, they rose 0.8% for the week.
The U.S. Labor Department released labor market figures Friday showing nonfarm payrolls increased by only 235,000 in August. This was below analysts’ estimates of 720,000 jobs.
In addition, the unemployment rate was 5.2% in August, close to analysts’ expectations.
Meanwhile, Hurricane Ida caused landslides along the coast of the Gulf of Mexico. It caused the U.S. to shut down 93.33% of oil and 89.25% of natural gas production in the Gulf of Mexico, another factor that affected oil prices.
The Spot Market is Closed
Saturday.4 Sep-2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 04.00 | 1,827.60 1,828.60 | +18.00 0.99% | 1,808.80 1,835.30 |
| Silver 04.00 | 24.67 24.77 | +0.79 3.29% | 23.86 24.94 |
| Platinum 04.00 | 1,022.00 1,032.00 | +28.00 2.82% | 990.00 1,034.00 |
| Palladium 04.00 | 2,356.00 2,506.00 | +12.00 0.51% | 2,326.00 2,528.00 |
| Rhodium 04.00 | 15,750.00 17,750.00 | +150.00 0.96% | 15,600.00 17,750.00 |
| Energy Updated at | Price | Change | %Change |
| Crude Oil 08.45 | 69.10 | -0.89 | -1.27% |