{"id":52868,"date":"2021-10-16T01:33:33","date_gmt":"2021-10-15T21:33:33","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=52868"},"modified":"2021-10-16T01:33:36","modified_gmt":"2021-10-15T21:33:36","slug":"anticipated-deficit-pushes-oil-prices-higher","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/anticipated-deficit-pushes-oil-prices-higher\/10\/16\/market-updates\/","title":{"rendered":"Anticipated deficit pushes oil prices higher"},"content":{"rendered":"\n<p>Oil prices settled at a three-year high above $85 a barrel on Friday, boosted by anticipated supply deficit in the next few winter months as the easing of coronavirus-related travel restrictions leads demand surge.<br><br>Brent crude futures settled up 86 cents, or 1%, at$84.86 a barrel. Front-month prices, which touched their highest level since October 2018 at $85.10, hit a weekly rise of 3%, its sixth straight weekly gain.<br><br>U.S. WTI crude futures rose 97 cents, or 1.2%, to $82.28 a barrel. Oil was up 3.5% on the week in an eighth consecutive week.<br><\/p>\n\n\n\n<p>Demand has picked up with the recovery from the COVID-19 pandemic, with a further boost from power generators who have been turning away from expensive gas and coal to fuel oil and diesel.<br><\/p>\n\n\n\n<p>The White House said it will lift COVID-19 travel restrictions for fully vaccinated foreign nationals effective Nov. 8, which should boost jet fuel demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices settled at a three-year high above $85 a barrel on Friday, boosted by anticipated supply deficit in the next few winter months as the easing of coronavirus-related travel restrictions leads demand surge.Brent crude futures settled up 86 cents, or 1%, at$84.86 a barrel. Front-month prices, which touched their highest level since October 2018 &hellip;<\/p>\n","protected":false},"author":13,"featured_media":52872,"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":[38,37,36],"tags":[7156,7332,7436,6951,7803,7533,7662,7685],"class_list":["post-52868","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-brent","tag-coal","tag-crude-oil","tag-natural-gas","tag-power-generators","tag-white-house","tag-winter","tag-wti-crude-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/52868","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=52868"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/52868\/revisions"}],"predecessor-version":[{"id":52873,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/52868\/revisions\/52873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52872"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=52868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=52868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=52868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}