{"id":79080,"date":"2023-01-27T10:40:00","date_gmt":"2023-01-27T06:40:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=79080"},"modified":"2023-01-27T11:17:45","modified_gmt":"2023-01-27T07:17:45","slug":"oil-is-rising-with-the-support-of-strong-us-economic-data","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-is-rising-with-the-support-of-strong-us-economic-data\/01\/27\/market-updates\/","title":{"rendered":"Oil is rising with the support of strong US economic data"},"content":{"rendered":"\n<p>Oil prices rose slightly on Friday, extending their gains for the second session in a row, supported by strong US economic data and mounting hopes for a recovery in demand after the reopening of the Chinese economy.<\/p>\n\n\n\n<p>By 0113 GMT, Brent crude futures were up 30 cents, or 0.3 percent, at $87.66 a barrel. West Texas Intermediate crude futures rose 21 cents, or 0.3 percent, to $81.22 a barrel.<\/p>\n\n\n\n<p>Both benchmarks rose more than 1% on Thursday, and Brent is on track for its second weekly gain if gains continue.<\/p>\n\n\n\n<p>The improvement in US GDP and inflation data gives a glimmer of hope that the Federal Reserve may slow down the pace of interest rate hikes, reducing fears of contraction in economic activity and the consequent demand for oil.<\/p>\n\n\n\n<p>Meanwhile, the Centers for Disease Control and Prevention said this week that the number of severe COVID-19 cases in China fell 72 percent from a peak this month, while the number of hospitalized patients fell 79 percent. These numbers indicate the return of the Chinese economy to normal, which reinforces expectations of a recovery in oil demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose slightly on Friday, extending their gains for the second session in a row, supported by strong US economic data and mounting hopes for a recovery in demand after the reopening of the Chinese economy. By 0113 GMT, Brent crude futures were up 30 cents, or 0.3 percent, at $87.66 a barrel. West &hellip;<\/p>\n","protected":false},"author":9,"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":[36],"tags":[7684,8275,7534,6858,7485],"class_list":["post-79080","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-lawmakers","tag-russian-economy","tag-sanctions","tag-us-economy","tag-yellen"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79080","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=79080"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79080\/revisions"}],"predecessor-version":[{"id":79081,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79080\/revisions\/79081"}],"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=79080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=79080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=79080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}