Oil rises 1% on US jobs data
Oil prices rose today after the US jobs report showed the economy lost 23,000 jobs in July, reducing the likelihood of the Federal Reserve intervening to raise interest rates. Brent crude increased to $83.55 per barrel, up by 1.29%, while US WTI crude climbed to $78.18 at the close, up by 1.15%. This comes amid ongoing concerns over the five-month-long fighting between Iran and the United States.
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