{"id":71372,"date":"2022-09-01T22:44:39","date_gmt":"2022-09-01T18:44:39","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=71372"},"modified":"2022-09-01T23:40:04","modified_gmt":"2022-09-01T19:40:04","slug":"wti-faces-intraday-lows-on-demand-worries","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/wti-faces-intraday-lows-on-demand-worries\/09\/01\/market-updates\/","title":{"rendered":"WTI faces intraday lows on demand worries"},"content":{"rendered":"\n<p>Crude oil is facing fresh lows on the day as commodities are served a new blow by news on China&#8217;s covid levels and probable lockdown risks.<br><br>Global growth concerns and the Iran deal talks are affecting oil\u2019s price action. prices are continuing downside on Thursday as a combination of the lockdowns in China and concerns over global growth accelerate. <br><br>At the time of writing, WTI crude oil is trading lower by 3.1% having hit a fresh low for the session of $86.40 per barrel.<br><br>WTI fell from a high of $89.63 on the day as doubts over demand accumulate following news that Chengdu has become the latest Chinese city to be locked down as Beijing continues to pursue its controversial zero-Covid policy.<br><br>Factory activity slumped in August as China&#8217;s zero-COVID curbs and cost pressures continued to hurt businesses. The PMIs released by CFLP (China Federation of Logistics &amp; Purchasing) showed a second consecutive month of contraction in the manufacturing sector while the non-manufacturing outlook also moderated in August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil is facing fresh lows on the day as commodities are served a new blow by news on China&#8217;s covid levels and probable lockdown risks.Global growth concerns and the Iran deal talks are affecting oil\u2019s price action. prices are continuing downside on Thursday as a combination of the lockdowns in China and concerns over &hellip;<\/p>\n","protected":false},"author":13,"featured_media":58819,"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":[6832,8431,7523,6909],"class_list":["post-71372","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-china","tag-iran","tag-lockdown","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71372","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=71372"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71372\/revisions"}],"predecessor-version":[{"id":71379,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71372\/revisions\/71379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/58819"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=71372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=71372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=71372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}