{"id":81080,"date":"2023-03-07T17:31:48","date_gmt":"2023-03-07T13:31:48","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=81080"},"modified":"2023-03-07T17:31:50","modified_gmt":"2023-03-07T13:31:50","slug":"oil-is-falling-due-to-the-rise-of-the-dollar-and-weak-chinese-data","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-is-falling-due-to-the-rise-of-the-dollar-and-weak-chinese-data\/03\/07\/market-updates\/","title":{"rendered":"Oil is falling due to the rise of the dollar and weak Chinese data"},"content":{"rendered":"\n<p>Oil prices fell on Tuesday after a stronger dollar and weak oil data in China turned the market around after five days of gains.<\/p>\n\n\n\n<p>Brent crude futures fell 41 cents, or 0.48 percent, to $85.77 a barrel by 1250 GMT.<\/p>\n\n\n\n<p>US West Texas Intermediate crude fell 40 cents, or 0.5 percent, to $80.06 a barrel.<\/p>\n\n\n\n<p>Prices fell as the dollar rose ahead of Federal Reserve Chairman Jerome Powell&#8217;s testimony to Congress at 1500 GMT on Tuesday.<\/p>\n\n\n\n<p>The focus will be on how confident Powell remains that the Fed is on the right path to push inflation back steadily towards its 2 percent target.<\/p>\n\n\n\n<p>A rise in the dollar usually reduces demand for oil denominated in the US currency from buyers holding other currencies.<\/p>\n\n\n\n<p>Prices were further pressured by lower Chinese exports and imports in January and February, including crude oil imports. The decline came despite the lifting of pandemic-related restrictions in China, which indicates weak external demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Tuesday after a stronger dollar and weak oil data in China turned the market around after five days of gains. Brent crude futures fell 41 cents, or 0.48 percent, to $85.77 a barrel by 1250 GMT. US West Texas Intermediate crude fell 40 cents, or 0.5 percent, to $80.06 a barrel. &hellip;<\/p>\n","protected":false},"author":9,"featured_media":74099,"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":[8159,9007],"class_list":["post-81080","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-crude-oil-prices","tag-russian-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81080","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=81080"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81080\/revisions"}],"predecessor-version":[{"id":81081,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81080\/revisions\/81081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/74099"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=81080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=81080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=81080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}