{"id":42419,"date":"2021-03-04T10:38:43","date_gmt":"2021-03-04T06:38:43","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=42419"},"modified":"2021-03-04T10:38:46","modified_gmt":"2021-03-04T06:38:46","slug":"oil-prices-rise-more-than-2-supported-by-a-significant-decrease-in-us-inventories","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-rise-more-than-2-supported-by-a-significant-decrease-in-us-inventories\/03\/04\/market-updates\/","title":{"rendered":"Oil prices rise more than 2%, supported by a significant decrease in US inventories"},"content":{"rendered":"\n<p><br>Oil prices rose more than 2% on Wednesday, supported by a significant drop in US fuel inventories and expectations that OPEC + producers may take a decision against increasing production when they meet this week.<\/p>\n\n\n\n<p>US gasoline stocks fell last week by the most on record, and refining production fell to a record low in the wake of a deep freeze in Texas that halted production.<\/p>\n\n\n\n<p>The US Energy Information Administration said gasoline stocks fell to 243.5 million barrels, while distillate stocks fell by the most since 2003, to 143 million barrels.<\/p>\n\n\n\n<p>The Energy Information Administration said crude inventories rose by 21.6 million barrels, the largest number on record, to 484.6 million barrels.<\/p>\n\n\n\n<p>Refining capacity use fell to only 56% of total capacity, the lowest level ever, as the US Gulf Coast&#8217;s refining capacity usage fell to 40.9%.<\/p>\n\n\n\n<p>Brent crude rose $1.37, or 2.2%, to close at $64.07 a barrel. US West Texas Intermediate crude oil rose $ 1.53, or 2.6%, to settle at $61.28 a barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose more than 2% on Wednesday, supported by a significant drop in US fuel inventories and expectations that OPEC + producers may take a decision against increasing production when they meet this week. US gasoline stocks fell last week by the most on record, and refining production fell to a record low in &hellip;<\/p>\n","protected":false},"author":9,"featured_media":32818,"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-42419","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\/42419","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=42419"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42419\/revisions"}],"predecessor-version":[{"id":42420,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42419\/revisions\/42420"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32818"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=42419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=42419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=42419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}