{"id":78755,"date":"2023-01-21T01:05:00","date_gmt":"2023-01-20T21:05:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=78755"},"modified":"2023-01-21T02:40:27","modified_gmt":"2023-01-20T22:40:27","slug":"expected-chinese-rising-demand-pushes-wti-oil-higher","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/expected-chinese-rising-demand-pushes-wti-oil-higher\/01\/21\/market-updates\/","title":{"rendered":"Expected Chinese Rising Demand Pushes Oil prices Higher"},"content":{"rendered":"\n<p>According to the International Energy Agency, lifting COVID-19 restrictions in China is expected to increase global oil demand to a record high this year.<br><br>WTI crude oil futures edged higher on Friday, putting the market in a position to post a second straight weekly gain. The catalysts triggering this price action obviously include rising economic hopes that China could boost fuel demand in the reopened big economy.<br><br>March WTI crude oil trades at $81.64, up $1.03 or +1.28% versus Thursday\u2019s closing price at $80.61 per barrel. On Thursday also, the US Oil Fund ETF (USO) settled at $70.59, up $1.08 or +1.55%.<br><br>Optimistic remarks by the International Energy Agency (IEA) and OPEC benefited oil prices on Friday. Hopes for a softer tone from the Fed are also providing support. According to a Reuters poll, experts expect the Fed to increase rates by 25 basis points two more times before pausing.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the International Energy Agency, lifting COVID-19 restrictions in China is expected to increase global oil demand to a record high this year.WTI crude oil futures edged higher on Friday, putting the market in a position to post a second straight weekly gain. The catalysts triggering this price action obviously include rising economic hopes &hellip;<\/p>\n","protected":false},"author":13,"featured_media":77220,"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":[10170,6959,6846,6876],"class_list":["post-78755","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-chinese-demand","tag-iea","tag-oil","tag-opec"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78755","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=78755"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78755\/revisions"}],"predecessor-version":[{"id":78764,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78755\/revisions\/78764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/77220"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=78755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=78755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=78755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}