{"id":1573151,"date":"2022-07-27T11:15:00","date_gmt":"2022-07-27T15:15:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1573151"},"modified":"2022-07-27T11:15:25","modified_gmt":"2022-07-27T15:15:25","slug":"oil-rises-on-u-s-inventory-drop-russian-gas-cuts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-rises-on-u-s-inventory-drop-russian-gas-cuts\/","title":{"rendered":"Oil rises on U.S. inventory drop, Russian gas cuts"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Foil-rises-on-u-s-inventory-drop-russian-gas-cuts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1573151&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><img decoding=\"async\" width=\"373\" height=\"210\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6Q00P-VIEWIMAGE-373x210-1.jpg\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"\" loading=\"lazy\" style=\"float:left; margin:0 15px 15px 0;\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6Q00P-VIEWIMAGE-373x210-1.jpg 373w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI6Q00P-VIEWIMAGE-180x101.jpg 180w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI6Q00P-VIEWIMAGE-260x146.jpg 260w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI6Q00P-VIEWIMAGE-120x67.jpg 120w\" sizes=\"auto, (max-width: 373px) 100vw, 373px\" \/><\/p>\n<p>By Alex Lawler<\/p>\n<p>LONDON (Reuters) -Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming U.S. interest rate hike.<\/p>\n<p>Industry group the American Petroleum Institute said on Tuesday crude stocks fell by 4 million barrels, four times the forecast decline. [API\/S] The Energy Information Administration\u2019s official figures are out at 1430 GMT.<\/p>\n<p>\u201cCoupled with the Fed decision on interest rates, today is sure to be a heavy U.S.-centric session,\u201d said Stephen Brennock of oil broker PVM.<\/p>\n<p>Brent crude rose 91 cents, or 0.9%, to $105.31 a barrel at 0811 GMT. U.S. West Texas Intermediate (WTI) crude gained $1.16, or 1.2%, to $96.14. <\/p>\n<p>\u201cIt looks the more vulnerable from a technical perspective, and a large gain by official U.S. crude inventories tonight could spark more selling,\u201d said Singapore-based analyst Jeffrey Halley of brokerage OANDA, referring to WTI.<\/p>\n<p>Oil has soared in 2022, reaching a 14-year high of $139 a barrel in March after Russia\u2019s invasion of Ukraine added to supply worries and as demand recovered from the pandemic. <\/p>\n<p>Since then, concerns of economic slowdown and rising interest rates have weighed, despite supply outages in Libya and Nigeria and cuts in Russian gas flows to Europe.  <\/p>\n<p>Gas flows through the Nord Stream 1 pipeline fell to a fifth of the pipeline\u2019s capacity on Wednesday, while Italy\u2019s Eni said it will receive lower volumes from Russia\u2019s Gazprom.<\/p>\n<p>Later on Wednesday the U.S. Federal Reserve is expected to announce an aggressive rate rise of 75 basis points, a prospect that analysts said was limiting the rally.<\/p>\n<p>A large rate hike would add to concern about the demand outlook and a stronger dollar, which would make dollar-denominated commodities more expensive for other currency holders.<\/p>\n<p> (Addiitonal reporting by Emily Chow in Kuala Lumpur, Editing by Louise Heavens)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2730980\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6Q00P-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6Q00P-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Lawler LONDON (Reuters) -Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1573151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1573151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1573151"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1573151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1573151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1573151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1573151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}