Oil prices rose more than a dollar today, Monday, after the US House of Representatives approved a massive stimulus package, but the slowdown in the growth of factory activities in China limited the gains.<\/p>\n\n\n\n
Brent crude futures for May delivery increased $ 1.24, equivalent to 1.9%, to $65.66 a barrel. The April contracts expired on Friday.<\/p>\n\n\n\n
US West Texas Intermediate crude futures jumped $1.18, equivalent to 1.9%, to $ 62.68 a barrel.<\/p>\n\n\n\n
The month of the nearest maturity of the two contracts hit a 13-month high last week, but retreated on Friday, along with global financial markets, after bonds fell due to inflation concerns.<\/p>\n\n\n\n
The US House of Representatives passed a stimulus package worth $1.9 trillion on Saturday, boosting investor risk appetite and boosting stock markets in Asia. The package moves to the Senate for further discussions.<\/p>\n\n\n\n
And the approval of the Johnson & Johnson vaccine to prevent COVID-19 strengthened the outlook for the economy.<\/p>\n\n\n\n
The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC allies, a group known as OPEC +, meet on Thursday and may discuss allowing up to 1.5 million barrels per day to return to the market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose more than a dollar today, Monday, after the US House of Representatives approved a massive stimulus package, but the slowdown in the growth of factory activities in China limited the gains. Brent crude futures for May delivery increased $ 1.24, equivalent to 1.9%, to $65.66 a barrel. The April contracts expired on …<\/p>\n","protected":false},"author":9,"featured_media":34232,"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-42210","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\/42210","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=42210"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42210\/revisions"}],"predecessor-version":[{"id":42211,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42210\/revisions\/42211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/34232"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=42210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=42210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=42210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}