Brent crude oil futures extended losses for a third straight session on Friday, falling 2.2% to settle at $65.5 per barrel and marking their first weekly decline in three weeks. The drop followed a 2.4 million-barrel rise in US crude inventories, contrary to expectations, and ahead of a Sunday OPEC+ meeting where additional production increases are under consideration. Saudi Arabia is reportedly advocating for higher output to regain market share, potentially reversing some of the existing 1.65 million barrels-per-day cuts. Geopolitical tensions also weigh on the market, with the US pressuring buyers of Russian oil and imposing new levies on imports from India. Adding to bearish sentiment, new supply from Guyana and Brazil is expected to come online, while slower US economic growth raises concerns about demand. Overall, crude prices remain under pressure from the combined impact of potential oversupply, geopolitical risks, and economic uncertainties.

Brent Crude Falls on Inventory, OPEC+ Signals

WTI crude oil futures extended losses for a third straight session on Friday, falling 2.5% to settle at $61.9 per barrel and marking their first weekly decline in three weeks. The drop followed a 2.4 million-barrel rise in US crude inventories, contrary to expectations, and ahead of a Sunday OPEC+ meeting where additional production increases are under consideration. Saudi Arabia is reportedly advocating for higher output to regain market share, potentially reversing some of the existing 1.65 million barrels-per-day cuts. Geopolitical tensions also weigh on the market, with the US pressuring buyers of Russian oil and imposing new levies on imports from India. Adding to bearish sentiment, new supply from Guyana and Brazil is expected to come online, while slower US economic growth raises concerns about demand. Overall, crude prices remain under pressure from the combined impact of potential oversupply, geopolitical risks, and economic uncertainties.

WTI Crude Falls for 3rd Day, Posts Weekly Loss

US equities were lower in the afternoon session after weaker-than-expected August jobs data stoked concerns about a slowing economy, even as expectations for Federal Reserve rate cuts solidified. The S&P 500 and the Dow fell 0.5% each, while the Nasdaq 100 lost 0.2%. The economy added just 22K jobs, well below the 75,000 forecast, while the unemployment rate rose to 4.3%, highlighting a cooling labor market. Traders quickly priced in a higher likelihood of interest-rate cuts, with bets rising on a potential 50 bps reduction this month. Economically sensitive sectors led the decline, with banks, energy, and industrials falling, while real estate gained on rate-cut optimism. Broadcom surged 9% after forecasting strong AI-driven revenue growth, while Nvidia dropped 4% and AMD fell 6.5% following President Trump’s warning of substantial semiconductor tariffs. Lululemon tumbled 18.3% after a second profit warning, and major banks, including JPMorgan and Wells Fargo, fell over 2.5%.

US Stocks Retreat After Weak Jobs Data

Costa Rica’s annual deflation accelerated to 0.94% in August 2025 from 0.61% in July, the fourth straight month of price declines and the sharpest drop since March 2024. Deflation was driven by transport (-4.11%), information and communication (-3.70%), clothing and footwear (-1.76%), food and non-alcoholic beverages (-1.72%), furniture and household articles (-1.29%), and alcoholic beverages and tobacco (-0.33%). In contrast, prices rose for rent and utilities (1.15%), education (3.54%), and healthcare (1.05%). On a monthly basis, consumer prices fell 0.21%, after a 0.52% drop in July.

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Brent Crude Falls on Inventory, OPEC+ Signals

WTI Crude Falls for 3rd Day, Posts Weekly Loss

US Stocks Retreat After Weak Jobs Data

Costa Rica Deflation Deepens in August