{"id":79798,"date":"2023-02-10T11:34:30","date_gmt":"2023-02-10T07:34:30","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=79798"},"modified":"2023-02-10T11:34:32","modified_gmt":"2023-02-10T07:34:32","slug":"oil-is-falling-and-heading-towards-recording-weekly-gains","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-is-falling-and-heading-towards-recording-weekly-gains\/02\/10\/market-updates\/","title":{"rendered":"Oil is falling and heading towards recording weekly gains"},"content":{"rendered":"\n<p>Oil prices fell in early trading on Friday, February 10, but are heading towards recording political gains, as the market continues to oscillate between fears of a recession in the United States and hopes for a recovery in strong demand for fuel in China, the largest global importer.<\/p>\n\n\n\n<p>By 01:17 GMT, Brent crude futures fell 28 cents, or 0.3%, to $84.22 a barrel, and West Texas Intermediate crude futures fell 35 cents, or 0.5%, to $77.71 a barrel.<\/p>\n\n\n\n<p>This is due to the decline in prices, including due to a report yesterday, Thursday, which revealed that the number of US jobless claims increased more than expected last week, which raised fears of a recession.<\/p>\n\n\n\n<p>The latest US inventory data also raised fears of a slowdown in the world&#8217;s largest economy, as inventories jumped to the highest level since June 2021.<\/p>\n\n\n\n<p>However, Brent and West Texas Intermediate crude jumped by more than 5% this week, and compensated for most of last week&#8217;s losses, with the easing of fears related to a sharp rise in US interest in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell in early trading on Friday, February 10, but are heading towards recording political gains, as the market continues to oscillate between fears of a recession in the United States and hopes for a recovery in strong demand for fuel in China, the largest global importer. By 01:17 GMT, Brent crude futures fell &hellip;<\/p>\n","protected":false},"author":9,"featured_media":53340,"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":[7156,6885,7957,6909],"class_list":["post-79798","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-brent","tag-fed","tag-nfp-data","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79798","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=79798"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79798\/revisions"}],"predecessor-version":[{"id":79799,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79798\/revisions\/79799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53340"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=79798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=79798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=79798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}