Oil prices rose about 3% today, Wednesday, before giving up some of their gains as investors turned to the market, after a sharp decline in the previous session, as concerns related to supplies returned, with concerns of a global recession continuing.<\/p>\n\n\n\n
Brent crude futures rose as much as $3.08, or 2.9 percent, to $105.85 a barrel in early trade, after tumbling 9.5 percent on Tuesday, the biggest daily drop since March.<\/p>\n\n\n\n
And prices recorded in their latest trading, an increase of 1.63 dollars, or 1.6 percent, to 104.40 dollars a barrel.<\/p>\n\n\n\n
West Texas Intermediate crude rose to its highest level during the session at $102.14 a barrel, recording an increase of 2.64%, or 2.7%, after closing below $100 a barrel for the first time since the end of April.<\/p>\n\n\n\n
The contract fell for a short period with the rise of the dollar, but it resumed its rise, and recorded in the latest trading, an increase of 1.20 dollars, or 1.2%, to 100.70 dollars a barrel.<\/p>\n\n\n\n
The dollar rose to a 20-year high against the euro and a multi-year high against other major currencies.<\/p>\n\n\n\n
The rise of the dollar makes oil more expensive for holders of other currencies, which may reduce demand.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose about 3% today, Wednesday, before giving up some of their gains as investors turned to the market, after a sharp decline in the previous session, as concerns related to supplies returned, with concerns of a global recession continuing. Brent crude futures rose as much as $3.08, or 2.9 percent, to $105.85 a …<\/p>\n","protected":false},"author":9,"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":[38,36],"tags":[8159,7004],"class_list":["post-68161","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-crude-oil-prices","tag-opec-2"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68161","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=68161"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68161\/revisions"}],"predecessor-version":[{"id":68163,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68161\/revisions\/68163"}],"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=68161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}