{"id":52637,"date":"2021-10-14T00:47:42","date_gmt":"2021-10-13T20:47:42","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=52637"},"modified":"2021-10-14T00:47:52","modified_gmt":"2021-10-13T20:47:52","slug":"wti-oil-breaks-below-80-00-despite-usds-weakness","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/wti-oil-breaks-below-80-00-despite-usds-weakness\/10\/14\/market-updates\/","title":{"rendered":"WTI oil breaks below $80.00 despite USD\u2019s weakness"},"content":{"rendered":"\n<p>Western Texas Intermediate crude oil benchmark hardly progresses by 0.05%, it is trading at $79.94 during the New York session.<br><br>The market sentiment improved through the U.S. session, as depicted by U. S. equity indexes rising between 0.01% and 0.65%. The U.S. dollar Index, which influences the price of crude oil, is declining 0.51%, clinging to 94.00<br><br>Oil\u2019s move on Wednesday lies on the back of the OPEC+, which revised lower its estimate for 2021 global oil consumption in the organization\u2019s monthly report.<br><br>OPEC+ added that the spike in natural gas prices could boost crude oil use like power generation, but it could curb the demand in other areas such as refining.<br><br>Oil has surged due to the rebound in activity from the pandemic, which has increased consumption, depleting inventories.  Shortages in natural gas and coal have also driven demand on oil.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Western Texas Intermediate crude oil benchmark hardly progresses by 0.05%, it is trading at $79.94 during the New York session.The market sentiment improved through the U.S. session, as depicted by U. S. equity indexes rising between 0.01% and 0.65%. The U.S. dollar Index, which influences the price of crude oil, is declining 0.51%, clinging to &hellip;<\/p>\n","protected":false},"author":13,"featured_media":32612,"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":[38,37,39,36],"tags":[7436,7683,7004,7466,6871,6909],"class_list":["post-52637","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-global-stock-markets","category-market-updates","tag-crude-oil","tag-energy-shortage","tag-opec-2","tag-shortage","tag-usd","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/52637","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\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=52637"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/52637\/revisions"}],"predecessor-version":[{"id":52643,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/52637\/revisions\/52643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32612"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=52637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=52637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=52637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}