Oil Falls Below $70 as Sentiment Sours

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A poor U.S. jobs report led to a broader sell-off on Friday, with leading stock indices falling from record highs.Friday, August 1st, 2025 Buoyed by Trump’s Russia threats and news of Indian state refiners curbing purchases of Russian crude, crude oil futures have been trending above $70 per barrel throughout the week, settling on Friday slightly below the $71 mark. Towards the end of the week, sentiment has been sapped by expectations of yet another OPEC+ production hike, potentially even as high as 548,000 b/d, as the eight output-cutting…