Oil prices declined on Thursday, as the U.S. Dollar (USD) surged across the board after the Federal Reserve pointed to plans to raise interest rates sooner the previously expected, in a surprise change in tone.<\/p>\n\n\n\n
However, the drop in crude prices was relatively limited compared with other commodities amid expectations for demand recovery during the second half of the year.<\/p>\n\n\n\n
Brent crude futures for August delivery lost $1.31, or 1.76%, to close at the level of $73.08 a barrel, registering its first loss following five consecutive daily rises.<\/p>\n\n\n\n
Meanwhile, the West Texas Intermediate (WTI) futures for July delivery finished lower by $1.11, or 1.54%, at $71.04 per barrel, after rising for two consecutive sessions.<\/p>\n\n\n\n
This marked the biggest decline for the global and U.S. benchmark crude most active contracts since May 20.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices declined on Thursday, as the U.S. Dollar (USD) surged across the board after the Federal Reserve pointed to plans to raise interest rates sooner the previously expected, in a surprise change in tone. However, the drop in crude prices was relatively limited compared with other commodities amid expectations for demand recovery during the …<\/p>\n","protected":false},"author":10,"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-47138","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\/47138","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=47138"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/47138\/revisions"}],"predecessor-version":[{"id":47139,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/47138\/revisions\/47139"}],"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=47138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=47138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=47138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}