{"id":87105,"date":"2023-07-28T10:00:46","date_gmt":"2023-07-28T06:00:46","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=87105"},"modified":"2023-07-28T10:00:52","modified_gmt":"2023-07-28T06:00:52","slug":"oil-prices-open-lower-on-demand-concerns","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-open-lower-on-demand-concerns\/07\/28\/market-updates\/","title":{"rendered":"Oil prices open lower on demand concerns"},"content":{"rendered":"\n<p>Oil prices fell in early Asian trading on Friday after concerns about demand offset the impact of strong economic data.<\/p>\n\n\n\n<p>Brent crude was down 59 cents, or 0.7 percent, at $83.65 a barrel by 0027 GMT, but was on track for a weekly increase of 5 percent. US West Texas Intermediate crude also fell 51 cents, or 0.6 percent, to $79.58 a barrel, and is set to record a weekly increase of 5.2 percent.<\/p>\n\n\n\n<p>Oil prices rose in the last session on the back of strong business results and better-than-expected US economic data.<\/p>\n\n\n\n<p>On Thursday, the US Commerce Department reported GDP growth of 2.4 percent in the second quarter, beating expectations for a growth of 1.8 percent.<\/p>\n\n\n\n<p>But interest increases recently announced by global central banks aimed at quelling spiraling inflation have raised concerns about long-term demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell in early Asian trading on Friday after concerns about demand offset the impact of strong economic data. Brent crude was down 59 cents, or 0.7 percent, at $83.65 a barrel by 0027 GMT, but was on track for a weekly increase of 5 percent. US West Texas Intermediate crude also fell 51 &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":[6876,8427,6871,6909],"class_list":["post-87105","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-opec","tag-us-gdp","tag-usd","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87105","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=87105"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87105\/revisions"}],"predecessor-version":[{"id":87106,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87105\/revisions\/87106"}],"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=87105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=87105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=87105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}