The WTI crude oil retreats from multi-day high amid lack of major positives, cautious mood ahead of key data. Sluggish markets, Lunar New Year in China limit energy buyers\u2019 optimism.
WTI crude oil remains sidelined around $81.70, after refreshing the multi-day high above $82.00 the previous day. In doing so, the black gold portrays the market\u2019s inaction amid an absence of Chinese players due to the Lunar New year holidays.
Adding strength to the Oil price inaction could be the cautious mood ahead of the preliminary readings of January\u2019s activity numbers from the key economies.
The broad US dollar weakness and easing recession fears, mainly backed by China-linked optimism, seemed to have propelled the WTI crude oil to $82.68, the highest level since December 05, 2022.
Adding strength to the energy market\u2019s positive outlook could be the news suggesting a five-month high in India\u2019s crude oil imports and Pakistan\u2019s readiness to push back the power shortage with international help. It should be noted that the hopes of improved festive demand from China also pushes the WTI crude oil prices ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"
The WTI crude oil retreats from multi-day high amid lack of major positives, cautious mood ahead of key data. Sluggish markets, Lunar New Year in China limit energy buyers\u2019 optimism.WTI crude oil remains sidelined around $81.70, after refreshing the multi-day high above $82.00 the previous day. In doing so, the black gold portrays the market\u2019s …<\/p>\n","protected":false},"author":13,"featured_media":61146,"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":[6832,8137,6909],"class_list":["post-78836","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-china","tag-oil-demand","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78836","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=78836"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78836\/revisions"}],"predecessor-version":[{"id":78846,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78836\/revisions\/78846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61146"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=78836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=78836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=78836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}