{"id":46720,"date":"2021-06-09T13:30:45","date_gmt":"2021-06-09T09:30:45","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=46720"},"modified":"2021-06-09T12:59:09","modified_gmt":"2021-06-09T08:59:09","slug":"oil-prices-rise-thanks-to-signs-of-a-strong-recovery-in-fuel-demand","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-rise-thanks-to-signs-of-a-strong-recovery-in-fuel-demand\/06\/09\/market-updates\/","title":{"rendered":"Oil Prices Rise Thanks to Signs of a Strong Recovery in Fuel Demand"},"content":{"rendered":"\n<p>Oil prices rose for a second session on Wednesday, June 9, thanks to indications of strong demand for fuel in Western economies, while prospects for a return of Iranian supplies dissipated as the US Secretary of State said sanctions against Tehran were unlikely to be lifted.<\/p>\n\n\n\n<p>Brent crude futures rose 32 cents, or 0.4%, to $ 72.54 a barrel, after earlier touching $ 72.83, the highest level since May 20, 2019. Brent rose 1% on Tuesday.<\/p>\n\n\n\n<p>US West Texas Intermediate crude futures rose 31 cents, or 0.4%, to $70.36 a barrel, and had recorded $70.62, the highest level since October 17, 2018. Crude prices rose 1.2% on Tuesday.<\/p>\n\n\n\n<p>On Tuesday, the US Energy Information Administration expected fuel consumption growth this year in the United States, the world&#8217;s largest oil consumer, to reach 1.49 million barrels per day, up from a previous forecast of 1.39 million barrels per day.<\/p>\n\n\n\n<p>In another positive sign, data for the sector shows that US crude stocks fell last week, in line with analyst expectations according to a Reuters poll.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose for a second session on Wednesday, June 9, thanks to indications of strong demand for fuel in Western economies, while prospects for a return of Iranian supplies dissipated as the US Secretary of State said sanctions against Tehran were unlikely to be lifted. Brent crude futures rose 32 cents, or 0.4%, to &hellip;<\/p>\n","protected":false},"author":9,"featured_media":44454,"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-46720","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\/46720","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=46720"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/46720\/revisions"}],"predecessor-version":[{"id":46721,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/46720\/revisions\/46721"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/44454"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=46720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=46720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=46720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}