{"id":32567,"date":"2020-08-12T01:43:14","date_gmt":"2020-08-11T21:43:14","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=32567"},"modified":"2020-08-12T01:43:16","modified_gmt":"2020-08-11T21:43:16","slug":"oil-prices-settle-lower-by-1-2","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-settle-lower-by-1-2\/08\/12\/market-updates\/","title":{"rendered":"Oil Prices Settle Lower by 1%"},"content":{"rendered":"\n<p>Oil prices decline on Tuesday, after rising earlier in the session to its highest level in about five months, amidst concerns about a second COVID-19 wave as the number of cases increase in many countries.<\/p>\n\n\n\n<p>In addition, the market is still anticipating passing the second stimulus package by the U.S. Congress, amid differences between Democrats and Republicans.<\/p>\n\n\n\n<p>The global benchmark Brent crude oil futures declined by around 50 cents or 1.1% to settle at $44.50 per barrel.<\/p>\n\n\n\n<p>Meanwhile, the U.S. West Texas Intermediate (WTI) closed lower by 33 cents of 0.8% at $41.61 a barrel.<\/p>\n\n\n\n<p>Global demand for petroleum products amounted to 93.4 million barrels per day (b\/d) in July, down by 9.1 million b\/d compared with its level in July 2019, but higher than the average 85 million b\/d recorded during the second quarter (Q2) of 2020, according to data by the U.S. Energy Information Administration (EIA).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices decline on Tuesday, after rising earlier in the session to its highest level in about five months, amidst concerns about a second COVID-19 wave as the number of cases increase in many countries. In addition, the market is still anticipating passing the second stimulus package by the U.S. Congress, amid differences between Democrats &hellip;<\/p>\n","protected":false},"author":10,"featured_media":32271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6846],"class_list":["post-32567","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=32567"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32567\/revisions"}],"predecessor-version":[{"id":32568,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32567\/revisions\/32568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32271"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=32567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=32567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=32567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}