Oil prices fell more than 2% in early Asian trading on Monday after Chinese officials affirmed over the weekend their commitment to a tough approach to containing the Corona virus, dashing hopes of a recovery in oil demand in the world’s largest importer of crude.<\/p>\n\n\n\n
Brent crude futures fell $1.58, or 1.6 percent, to $96.99 a barrel by 2336 GMT, after hitting a low of $96.50 earlier. The price of US West Texas Intermediate crude reached $ 90.84 a barrel, down $1.77, or 1.9 percent, to record its lowest level during the session at $ 90.40 a barrel earlier in the session.<\/p>\n\n\n\n
She added that the dollar’s rise is weighing on oil prices.<\/p>\n\n\n\n
Four policymakers at the Federal Reserve indicated on Friday that they are still considering a smaller rate hike at their next policy meeting despite the strong jobs data.<\/p>\n\n\n\n
Brent and West Texas Intermediate rose 2.9 percent and 5.4 percent last week, respectively, as rumors of a possible end to strict lockdowns in China sent Chinese stock markets and commodity prices higher despite no changes announced.<\/p>\n\n\n\n
Trade data from China, the world’s second-largest economy, later on Monday may show a further slowdown in exports as global demand continues to decline.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices fell more than 2% in early Asian trading on Monday after Chinese officials affirmed over the weekend their commitment to a tough approach to containing the Corona virus, dashing hopes of a recovery in oil demand in the world’s largest importer of crude. Brent crude futures fell $1.58, or 1.6 percent, to $96.99 …<\/p>\n","protected":false},"author":9,"featured_media":72282,"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":[7156,9733,6909],"class_list":["post-75232","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-brent","tag-recession-fears","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75232","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=75232"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75232\/revisions"}],"predecessor-version":[{"id":75233,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75232\/revisions\/75233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/72282"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=75232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=75232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=75232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}