{"id":41798,"date":"2021-02-19T23:00:16","date_gmt":"2021-02-19T19:00:16","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=41798"},"modified":"2021-02-20T01:57:24","modified_gmt":"2021-02-19T21:57:24","slug":"oil-closes-lower-to-reduce-its-weekly-gains","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-closes-lower-to-reduce-its-weekly-gains\/02\/19\/market-updates\/","title":{"rendered":"Oil Closes Lower to Reduce its Weekly Gains"},"content":{"rendered":"\n<p>Oil prices declined on Friday, amid expectations that major crude producers forming the OPEC+ alliance could decide to raise output next month.<\/p>\n\n\n\n<p>The fall in oil prices comes despite the continuity of cold weather conditions, due to a strong winter storm that led to the shutdown of major oil facilities, as it is expected that production will soon resume at normal capacities.<\/p>\n\n\n\n<p>Brent crude futures for April delivery lost $1.02, or 1.6%, to close the week at $62.91 per barrel, registering a weekly rise of 0.8%.<\/p>\n\n\n\n<p>Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery closed lower by $1.27, or 2.1%, at $59.26 per barrel, turning to a weekly loss of 0.4%.<\/p>\n\n\n\n<p>This is the first time for the American benchmark crude contracts to close below $60 in three sessions. A level that it reached at Tuesday\u2019s close for the first time since January 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices declined on Friday, amid expectations that major crude producers forming the OPEC+ alliance could decide to raise output next month. The fall in oil prices comes despite the continuity of cold weather conditions, due to a strong winter storm that led to the shutdown of major oil facilities, as it is expected that &hellip;<\/p>\n","protected":false},"author":10,"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":[38,36],"tags":[6846],"class_list":["post-41798","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\/41798","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=41798"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41798\/revisions"}],"predecessor-version":[{"id":41799,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41798\/revisions\/41799"}],"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=41798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=41798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=41798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}