{"id":54779,"date":"2021-11-13T02:04:43","date_gmt":"2021-11-12T22:04:43","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=54779"},"modified":"2021-11-13T02:54:31","modified_gmt":"2021-11-12T22:54:31","slug":"oil-prices-under-accelerating-pressure","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-under-accelerating-pressure\/11\/13\/market-updates\/","title":{"rendered":"Oil Prices Under Accelerating Pressure"},"content":{"rendered":"\n<p>A handful of bearish factors are driving oil prices lower, with both WTI and Brent set for a third successive weekly loss.<br><br>While crude prices have been relatively range-bound recently, hovering within the $80-85 per barrel range, they are expected to suffer their third weekly decline in a row. Yet, beyond the retreats in the futures markets, several trends point towards a further weakening in crude. <br><br>Biden\u2019s Administration is expected to take a decision on further SPR releases in the upcoming days. In addition, demand prospects have soured a bit lately as OPEC cut its Q4 2021 demand forecast by 330,000 b\/d as high energy prices and inflation hamper economic recovery. <br><br>A strengthening U. S. dollar is putting additional pressure on crude. Against this context, the Brent global benchmark traded around $82 per barrel, whilst WTI was assessed around $80.5 per barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A handful of bearish factors are driving oil prices lower, with both WTI and Brent set for a third successive weekly loss.While crude prices have been relatively range-bound recently, hovering within the $80-85 per barrel range, they are expected to suffer their third weekly decline in a row. Yet, beyond the retreats in the futures &hellip;<\/p>\n","protected":false},"author":13,"featured_media":51662,"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":[38,6827,49,37,36],"tags":[7214,7156,6846,6936,6871,6909],"class_list":["post-54779","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates","tag-biden","tag-brent","tag-oil","tag-oil-prices","tag-usd","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/54779","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=54779"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/54779\/revisions"}],"predecessor-version":[{"id":54783,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/54779\/revisions\/54783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/51662"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=54779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=54779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=54779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}