Crude Oil Prices Fall on Weak US Employment Data

Key Facts

1Crude oil prices fell significantly on Friday to test technical support levels.

2The price decline was driven by US employment numbers that came out much weaker than anticipated.

Crude oil prices experienced a significant decline during Friday's session on October 2, 2026, to test key technical support levels. FX Empire reported that the price drop was driven by US employment numbers that came out much weaker than anticipated, triggering concerns among traders regarding economic growth and future energy demand.

WTI Crude Oil tested major support near the 50-day EMA at $89.45 and the $90 level, while Brent Crude pulled back toward $99.62. Reports indicated that the weak jobs report accelerated downward pressure, even as the market continues to weigh geopolitical tensions involving Iran and the Strait of Hormuz as potential supply influences.