{"id":42026,"date":"2021-02-25T11:40:57","date_gmt":"2021-02-25T07:40:57","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=42026"},"modified":"2021-02-25T11:41:02","modified_gmt":"2021-02-25T07:41:02","slug":"oil-hovering-near-highest-level-in-13-months-as-us-production-was-hit-by-a-storm","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-hovering-near-highest-level-in-13-months-as-us-production-was-hit-by-a-storm\/02\/25\/market-updates\/","title":{"rendered":"Oil Hovering Near Highest Level in 13 Months as US Production Was Hit by a Storm"},"content":{"rendered":"\n<p>Oil prices extended their gains for the fourth consecutive session and reached their highest levels in more than 13 months, supported by the US Central Bank&#8217;s assertion that interest rates will remain low, and a sharp drop in US crude production last week due to the storm that swept across Texas.<\/p>\n\n\n\n<p>Brent crude futures for April delivery increased 33 cents, or 0.5%, to $67.37 a barrel, and West Texas Intermediate crude for April delivery rose 23 cents, or 0.4%, to $63.45 a barrel.<\/p>\n\n\n\n<p>The two crude contracts touched their highest levels since January 8, 2020, earlier in the session, as Brent crude reached $67.49 a barrel, and West Texas crude oil reached $63.67 a barrel. The April Brent crude contract expires on Friday.<\/p>\n\n\n\n<p>The US dollar retreated due to the Fed\u2019s assurance that interest rates would remain low for a while, even if this strengthened the risk appetite of investors and global stock markets.<\/p>\n\n\n\n<p>The Energy Information Administration said on Wednesday that US crude production fell by more than 10%, or the equivalent of one million barrels per day, last week due to a severe winter storm sweeping through Texas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices extended their gains for the fourth consecutive session and reached their highest levels in more than 13 months, supported by the US Central Bank&#8217;s assertion that interest rates will remain low, and a sharp drop in US crude production last week due to the storm that swept across Texas. Brent crude futures for &hellip;<\/p>\n","protected":false},"author":9,"featured_media":30928,"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-42026","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\/42026","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=42026"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42026\/revisions"}],"predecessor-version":[{"id":42027,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42026\/revisions\/42027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/30928"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=42026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=42026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=42026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}