{"id":41848,"date":"2021-02-23T00:58:52","date_gmt":"2021-02-22T20:58:52","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=41848"},"modified":"2021-02-23T00:58:53","modified_gmt":"2021-02-22T20:58:53","slug":"oil-prices-score-strong-gains-as-winter-storm-impact-continues","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-score-strong-gains-as-winter-storm-impact-continues\/02\/23\/market-updates\/","title":{"rendered":"Oil Prices Score Strong Gains as Winter Storm Impact Continues"},"content":{"rendered":"\n<p>Oil prices rose on Monday, reaching their highest level in about a year, with anticipation for the return of crude production and refining capacities in Texas, the United States, following the recent winter storms.<\/p>\n\n\n\n<p>Production recovery is reportedly expected to take a time longer than previously estimated.<\/p>\n\n\n\n<p>Brent crude futures for May delivery closed higher by $2.22, or 3.6%, at $64.36 per barrel.<\/p>\n\n\n\n<p>Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery gained $2.44, or 4.1%, to finish at $61.70 per barrel.<\/p>\n\n\n\n<p>This is the highest closing level for the most active oil contracts since January 2020.<\/p>\n\n\n\n<p>Markets are still awaiting the outcomes of the upcoming OPEC+ meeting to decide on production policies.<\/p>\n\n\n\n<p>Last week, Brent futures registered a small weekly rise of 0.8%, while WTI futures saw a weekly loss of 0.4%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose on Monday, reaching their highest level in about a year, with anticipation for the return of crude production and refining capacities in Texas, the United States, following the recent winter storms. Production recovery is reportedly expected to take a time longer than previously estimated. Brent crude futures for May delivery closed higher &hellip;<\/p>\n","protected":false},"author":10,"featured_media":31782,"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-41848","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\/41848","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=41848"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41848\/revisions"}],"predecessor-version":[{"id":41849,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41848\/revisions\/41849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31782"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=41848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=41848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=41848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}