Oil prices fell in early trading on Thursday, continuing to decline for the fourth consecutive session, amid fears that slowing growth in China and a possible hike in interest rates in the United States will lead to a decline in fuel demand in the two largest economies in the world.<\/p>\n\n\n\n
Brent crude futures fell 37 cents, or 0.44 percent, to $83.08 a barrel, while US West Texas Intermediate crude fell 39 cents, or 0.49 percent, to $78.99 a barrel by 0038 GMT.<\/p>\n\n\n\n
The failure of a major Chinese credit company to pay dues on investment products and a decline in house prices increased fears that the worsening real estate sector crisis in China will destroy what is left of the economic momentum.<\/p>\n\n\n\n
China’s central bank abruptly cut key interest rates this week for the second time in three months, but analysts fear that will not be enough to stop the economic downturn.<\/p>\n\n\n\n
“Risk aversion in various markets affected sentiment in all commodities, and economic weakness in China exacerbated this,” ANZ Research said in a note.<\/p>\n\n\n\n
Oil prices were also affected by the minutes of the Federal Reserve’s July meeting, published on Wednesday, which showed central bank officials continued to prioritize the battle of inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices fell in early trading on Thursday, continuing to decline for the fourth consecutive session, amid fears that slowing growth in China and a possible hike in interest rates in the United States will lead to a decline in fuel demand in the two largest economies in the world. Brent crude futures fell 37 …<\/p>\n","protected":false},"author":9,"featured_media":60920,"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":[6911,10448,9153,9307,6859,6936],"class_list":["post-88041","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-europe","tag-labour-strikes","tag-lng","tag-natural-gas-prices","tag-oil-inventories","tag-oil-prices"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88041","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=88041"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88041\/revisions"}],"predecessor-version":[{"id":88042,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88041\/revisions\/88042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/60920"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=88041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=88041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=88041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}