He oil price falls this Monday and remains at minimum of six months amidst concerns to a US recession following a report by weaker than expected employment which has affected most risk assets. In this sense, the barrel Brentthe reference in Europe, fell by 0.90% to $76.16, while the barrel West Texasthe US benchmark, fell 0.87% to $72.79. In both cases, losses exceeded 2% during the session. «A weaker-than-expected US employment report released on Friday weighed heavily on risk assets. The publication suggests that The US economy is slowing faster than expectedwhich increases fears of recession. This only adds to the Concerns about Chinese demand that have been persisting in the oil market for some time,» explain ING Economics strategists. Investors fear that The Federal Reserve (Fed) has gone too far and arrive late to rate cuts, causing a «harder landing than expected» rather than the «soft landing or no landing» previously anticipated. «In fact, The market expects the central bank to cut its interest rates between two and three times. before the end of the year, while the Fed is currently maintaining its stance of a single cut,» they analyze at Link Securities. Likewise, the Diesel consumption in China is fallingthe world's largest contributor to oil demand growth, is weighing on global oil prices. However, as demand concerns grow, geopolitical risks also continue to weigh on the oil market. «Participants are waiting to see how Iran responds to the assassination of Hamas' political leader on Iranian soil. Iran has blamed Israel for the killing and has vowed to retaliate. While the developments may lead to a short-term volatility in the marketto see sustained strength, we would probably need to see some real disruption of oil supply, which has not happened so far,» he adds at ING Economics. Faced with this situation, the US Secretary of State, Antony Blinkenhas told G7 nations that The response could begin in the next 24 hoursalthough the exact time and type of attack are not known. «It is a Perfect demonstration of what happens when everyone tries to sell at the same time. These moves do not stop overnight and we are likely to have a summer of volatility ahead, especially as we await developments in the Middle East,» they conclude at IG.