Oil prices fell by more than 1% Wednesday, December 23, after a sector report showed an unexpected increase in US crude oil inventories, while US President Donald Trump shocked the markets after he threatened not to sign a long-awaited aid package linked to Covid-19.<\/p>\n\n\n\n
Brent crude futures fell 71 cents, or 1.4%, to $ 49.37 a barrel, while U.S. West Texas Intermediate crude futures fell 67 cents, or 1.4%, to $46.35 a barrel.<\/p>\n\n\n\n
Both decades fell by about 2% on Tuesday, declining for the second consecutive session.<\/p>\n\n\n\n
In addition to the doubts surrounding the situation in the United States, the oil market is still tense about the recovery of demand, as a new rapidly spreading strain of the coronavirus is ravaging Britain, which prompted many countries to close their borders to them.<\/p>\n\n\n\n
A report from the American Petroleum Institute yesterday said that US crude inventories increased by 2.7 million barrels in the week ending December 18th, compared to analysts’ expectations for a 3.2 million barrel drop.<\/p>\n\n\n\n
Oil has also been hit by Trump’s threat not to sign $892 billion aid package, saying he wants Congress to raise the amount of stimulus lawmakers approved on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices fell by more than 1% Wednesday, December 23, after a sector report showed an unexpected increase in US crude oil inventories, while US President Donald Trump shocked the markets after he threatened not to sign a long-awaited aid package linked to Covid-19. Brent crude futures fell 71 cents, or 1.4%, to $ 49.37 …<\/p>\n","protected":false},"author":9,"featured_media":31319,"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-39036","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\/39036","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=39036"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39036\/revisions"}],"predecessor-version":[{"id":39038,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39036\/revisions\/39038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31319"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=39036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=39036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=39036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}