{"id":1977071,"date":"2023-07-19T07:47:02","date_gmt":"2023-07-19T11:47:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brent-oil-hovers-over-80-as-inflation-worries-ease\/"},"modified":"2023-07-19T07:49:40","modified_gmt":"2023-07-19T11:49:40","slug":"brent-oil-hovers-over-80-as-inflation-worries-ease","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brent-oil-hovers-over-80-as-inflation-worries-ease\/","title":{"rendered":"Brent oil stays above $80 as inflation concerns ease."},"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%2Fbrent-oil-hovers-over-80-as-inflation-worries-ease%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=1977071&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--><div class=\"entry-content\">\n<h2>Oil Prices Rise as\u2063 China \u2063Boosts Economic \u200dGrowth and Fed \u200cExpected to Stop Raising \u2063Interest\u2063 Rates<\/h2>\n<blockquote>\n<p>By Natalie \u2062Grover<\/p>\n<\/blockquote>\n<p>Global \u200doil benchmark Brent\u2062 is currently \u200btrading\u2062 above $80, driven by \u2064China&#8217;s commitment to stimulate\u2063 economic growth and \u200dthe anticipation\u2064 that \u2063the \u200dU.S. \u2062Federal Reserve\u2063 will soon \u200bhalt its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chair-no-interest-rate-hikes-until-inflation-spike\/\" title=\"Federal Reserve Chair: No interest rate hikes until inflation spike\">interest rate hikes<\/a>.<\/p>\n<div \u200cid=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: \u200d320px;\u200b min-height: 50px;  text-align: \u2062center;\"> \u2062 \t<script> \u200b \t\tgoogletag.cmd.push(function()\u200b {\u200c googletag.display('div-gpt-ad-1663871513696-art-1');\u200d });  \t<\/script>  <\/div>\n<p> \u200b <\/p>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<p>\u200c  <\/p>\n<p> \u200b\u200b  <\/p>\n<p>Brent futures \u200bare up 38 cents\u200b at\u200d $80.01 a barrel,\u200c while U.S. West Texas Intermediate \u2062(WTI) \u2064crude has \u2064risen \u200cby \u206420 \u2063cents \u200cto\u2063 $75.95 per barrel.<\/p>\n<p>China&#8217;s \u2064top \u2062economic planner has \u200bannounced plans\u2062 to \u200bboost consumption in\u2063 the country, which\u200c could\u200d lead \u2064to increased oil\u2063 demand.<\/p>\n<p>\u2062 <\/p>\n<p>In\u200b the U.S.,\u200d retail sales for June were lower than expected, \u200draising expectations that the Federal\u200c Reserve will pause \u200bits rate hikes\u2063 after \u200dthe <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brent-oil-hovers-over-80-as-inflation-worries-ease\/\" title=\"Brent oil stays above  as inflation concerns ease.\">anticipated \u200b25 basis-point increase<\/a> \u2062at its upcoming meeting.<\/p>\n<p>\u200b <\/p>\n<p>Higher \u2064interest rates can hinder \u2062economic growth and reduce oil demand.<\/p>\n<p> \u2063<\/p>\n<p>Furthermore, European\u200d Central\u200c Bank (ECB) governing \u200ccouncil member\u2063 Klaas Knot has suggested that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/recession-fears-intensify-after-stocks-fall-into-bear-market\/\" title=\"Recession Fears Intensify After Stocks Fall Into Bear Market\">future rate hikes<\/a>\u200b are\u2063 not\u200b guaranteed.<\/p>\n<p>\u200c <\/p>\n<p>Positive inflation data from Canada and the United\u200c Kingdom,\u200d indicating\u2062 a \u200ccooling trend, \u2062has \u2062also\u2062 contributed to the positive sentiment.<\/p>\n<p>&#8220;Traders have become more optimistic as inflation eases off&#8230;\u200b any improvement in the inflation data \u2062also means \u200can improvement \u200cin\u200b oil demand,&#8221; \u2062said \u200bNaeem Aslam, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-plans-to-unveil-advisory-warning-for-americans-doing-business-with-deteriorating-hong-kong\/\" title=\"Biden Plans To Unveil \u2018Advisory\u2019 Warning For Americans Doing Business With \u2018Deteriorating\u2019 Hong Kong\">chief investment officer<\/a> at \u2062Zaye Capital Markets.<\/p>\n<p>On \u2063the \u200dsupply side, \u200dthe American Petroleum Institute\u200d (API) reported a \u2064decline in\u2062 crude oil,\u2062 gasoline, and\u2062 distillate inventories last\u2062 week.<\/p>\n<p> \u2064<\/p>\n<p>PVM analyst \u200bJohn Evans\u200b noted that the API\u2062 report was \u200done\u200c of the \u2064main\u200d reasons\u200d for \u2063the market&#8217;s\u2062 calm opening, despite the crude draw\u200d being \u200blower than expected.<\/p>\n<p>Meanwhile, Russia\u200b plans to reduce its oil\u2063 exports\u200c by \u200c2.1 million \u200dmetric tons in the third quarter, \u2063aligning with its \u200cvoluntary export cuts\u2063 of\u200c 500,000 \u2063barrels per day in August,\u2063 according to\u2062 the energy ministry.<\/p>\n<p> \u200c(Reporting \u2064by Natalie Grover \u2064in London; Additional \u2064reporting by\u200b Katya Golubkova\u200b in Tokyo\u200c and Trixie Yap \u200din Singapore; Editing \u2064by \u2063Jamie Freed, \u200cDavid \u2064Holmes\u2062 and Sharon Singleton)<\/p>\n<p><a \u200chref=\"https:\/\/www.oann.com\/uncategorized\/brent-oil-hovers-over\/attachment\/crude-oil-tanker-in-zhoushan\/\"><\/a><\/p>\n<\/p><\/div>\n<div \u200bclass=\"entry-content\">\n<h3>Trump \u2062Served\u200c Target Letter by Special Counsel \u200bover January 6th<\/h3>\n<\/p><\/div>\n<div \u2064class=\"entry-content\">\n<h3>DNC Plans\u2062 to\u200c Replace President \u200dBiden \u200din\u2062 2024, Says Roger Stone<\/h3>\n<\/div>\n<div class=\"entry-content\">\n<h3>Jack\u2063 Smith \u2062Targets Trump\u200c over January \u200d6th, \u2063DOJ \u200cPossibly Covering for Hunter \u2063Biden<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\u200d  \t\t\t\t\t\t\t\t\t\t<\/p>\n<h3>President Biden Seeks\u200b Remedy \u2063for Anti-Semitic Language, Invites\u2062 Prime\u200b Minister\u2063 Netanyahu<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\u2063  \t\t\t\t\t\t\t\t\t\t<\/p>\n<h3>Societe Generale\u2062 Becomes\u2064 First French\u200b Company \u200cto \u2062Obtain Crypto Services\u2064 License<\/h3>\n<\/p><\/div>\n<div \u200cclass=\"entry-content\"> \u2062 \u200b\t\t\t\t\t\t\t\t\t\t<\/p>\n<h3>Japan Aims\u200c to \u2064Expand\u200c Computing Power for Global Competitiveness<\/h3>\n<p> \u2063\t\t\t\t\t\t\t\t\t<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Reddit Faces\u2063 Potential Fine in\u200b Russia for Not Removing &#8220;Banned Content&#8221;<\/h3>\n<\/p><\/div>\n<div \u200bclass=\"entry-content\">\n<h3>EU\u2064 Urges Asian Countries \u2062to Follow \u200dIts Lead on\u2063 Data Privacy Regulations<\/h3>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Natalie Grover LONDON (Reuters) &#8211; Brent, the global oil benchmark, remained above $80 on Wednesday, supported by China&#8217;s commitment to boost economic growth and anticipation of the U.S. Federal Reserve halting interest rate hikes. Brent futures climbed 38 cents to $80.01 per barrel at 0956 GMT, with U.S. West Texas Intermediate (WTI) crude also rising.<\/p>\n","protected":false},"author":66,"featured_media":1977072,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1977071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1977071","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=1977071"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1977071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1977072"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1977071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1977071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1977071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}