International crude oil prices fell sharply on August 2, reaching the lowest since January. This decline was caused by disappointing US employment data, which revealed that job growth in July was below expectations, and weak economic indicators from China further pressured oil prices.

West Texas Intermediate (WTI) crude for September delivery decreased by US$2.79 (3.66%), reaching US$73.52/barrel on the New York Mercantile Exchange.

Brent crude for October delivery fell by US$2.71 (3.41%), settling at US$76.81/barrel.