{"id":34055,"date":"2020-09-16T12:37:49","date_gmt":"2020-09-16T08:37:49","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=34055"},"modified":"2020-09-16T12:37:50","modified_gmt":"2020-09-16T08:37:50","slug":"oil-rises-ahead-of-hurricane-sally-gloomy-demand-outlooks-hold-back-gains","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-rises-ahead-of-hurricane-sally-gloomy-demand-outlooks-hold-back-gains\/09\/16\/market-updates\/","title":{"rendered":"Oil Rises Ahead of Hurricane Sally, Gloomy Demand Outlooks Hold Back Gains"},"content":{"rendered":"\n<p>Brent crude was up 24 cents to 39.85 dollars a barrel, while US West Texas Intermediate crude futures increased 33 cents to $ 37.59. Both contracts were down on Monday.<\/p>\n\n\n\n<p>The rally in oil contracts comes just before Hurricane Sally is expected to hit the US coast on the Gulf of Mexico. More than a fifth of US offshore oil production was halted and major export ports closed as the storm&#8217;s course turned eastward toward western Alabama, bypassing some Gulf Coast refineries.<\/p>\n\n\n\n<p>However, the outlook for oil demand remained weak, which limited gains during the session. <\/p>\n\n\n\n<p>Today, the International Energy Agency reduced its demand for demand in 2020 by 200 thousand barrels per day to 91.7 million barrels per day.<br>The reason for this is the need to be careful about the pace of economic recovery.<\/p>\n\n\n\n<p>&#8220;We expect the recovery in oil demand to slow significantly in the second half of 2020,&#8221; the agency said in its monthly report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brent crude was up 24 cents to 39.85 dollars a barrel, while US West Texas Intermediate crude futures increased 33 cents to $ 37.59. Both contracts were down on Monday. The rally in oil contracts comes just before Hurricane Sally is expected to hit the US coast on the Gulf of Mexico. More than a &hellip;<\/p>\n","protected":false},"author":9,"featured_media":31014,"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":[38,6827,36],"tags":[6846],"class_list":["post-34055","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/34055","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=34055"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/34055\/revisions"}],"predecessor-version":[{"id":34056,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/34055\/revisions\/34056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31014"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=34055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=34055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=34055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}