{"id":1979265,"date":"2023-07-21T08:04:02","date_gmt":"2023-07-21T12:04:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-edges-higher-buoyed-by-tighter-supplies-china-stimulus\/"},"modified":"2023-07-21T08:06:22","modified_gmt":"2023-07-21T12:06:22","slug":"oil-edges-higher-buoyed-by-tighter-supplies-china-stimulus","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-edges-higher-buoyed-by-tighter-supplies-china-stimulus\/","title":{"rendered":"Oil prices rise due to reduced supplies and stimulus measures in China."},"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\">24<\/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-edges-higher-buoyed-by-tighter-supplies-china-stimulus%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=1979265&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\u2062 Prices Rise on \u200bTightening \u2063Supplies and Economic Stimulus in China<\/h2>\n<blockquote>\n<p>By Natalie Grover<\/p>\n<\/blockquote>\n<p>LONDON (Reuters) &#8211; Oil prices rose on Friday, \u2062buoyed by\u200d evidence of \u2062tightening supplies and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-i-got-a-covid-test-four-times-in-one-day-two-came-back-negative-two-came-back-positive-the-daily-wire\/\" title=\"Elon Musk: I Got A COVID Test Four Times In One Day. \u2018Two Came Back Negative, Two Came Back Positive.\u2019 | The Daily Wire\">economic stimulus<\/a> in \u2063slow-recovering China.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Brent futures were up 94\u200b cents at $80.58\u2062 a barrel by 0955 GMT \u2013 rising as high as $1 earlier \u2013 while U.S. West Texas \u200dIntermediate (WTI) crude also climbed 94 cents to $76.59 a barrel. <\/p>\n<p>The supply deficit that\u2062 had\u200b been looming in the second half of the year is now backed up by hard figures, Commerzbank analysts said, citing recent data\u200b indicating China and India\u2019s imports of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gov-greg-abbott-texas-must-fight-federal-overreach-biden-showing-extreme-hostility-to-state\/\" title=\"Gov. Greg Abbott: Texas Must Fight \u2018Federal Overreach\u2019; Biden Showing \u2018Extreme Hostility\u2019 To State\">crude oil<\/a> from Russia \u200chit\u2063 an all-time high in\u200b June.  <\/p>\n<p>However, buying interest from India is likely to weaken, \u200bgiven narrowing discounts and payment problems. Meanwhile,\u200d in\u200d early July Russia joined\u200d Saudi Arabia in\u200d cutting output\u200b for August. <\/p>\n<p>\u201cDemand from China and India could therefore shift more towards other suppliers, which would push up <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">oil prices<\/a>,\u201d\u200b the analysts said.\u2064    \u2063       <\/p>\n<p>In\u200c the U.S., crude inventories have also fallen, supported by\u200d a jump in crude exports\u200b as well as\u2062 higher \u2063refinery utilization, the\u200b Energy Information Administration (EIA) said on Wednesday.  \u200b       <\/p>\n<p>\u201cThat tightness in supply is \u200dalready showing up\u2064 in inventories,\u201d \u2062analysts from ANZ Bank said.\u200b <\/p>\n<p>Meanwhile,\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-edges-higher-buoyed-by-tighter-supplies-china-stimulus\/\" title=\"Oil prices rise due to reduced supplies and stimulus measures in China.\">investors welcomed stimulus measures designed<\/a> to reinvigorate China\u2019s sluggish economy. <\/p>\n<p>Latest figures from the world\u2019s\u2062 second-biggest\u2062 oil\u2062 consumer suggest the rate of\u2062 gross domestic\u2063 product growth in the\u200b second-quarter augurs a miss of the government\u2019s 5% annual growth target. <\/p>\n<p>On Friday, Chinese authorities unveiled plans to help boost sales of automobiles and\u200c electronics to shore \u200cup its sluggish economy.<\/p>\n<p>\u201cThe announcement remains short on \u2063detail but notions of China buying more cars\u2063 gives rise in hope\u200d for oil investor bulls,\u201d PVM analyst John Evans said. <\/p>\n<p>  \u2062 (Reporting by \u200dNatalie Grover in London; Additional \u2062reporting by Arathy Somasekhar in\u200c Houston and Andrew \u2064Hayley \u2063in Beijing; editing by Jamie Freed, Jason Neely and Louise Heavens)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/oil-edges-higher-buoyed\/attachment\/pumpjacks-are-seen-during-sunset-at-the-daqing-oil-field\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Recording Artist Natasha Owens Responds to Jason Aldean and CMT &#8220;Controversy&#8221; with \u2062Anti-Woke and Conservative Music<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>News Commentator and Podcaster, Jess \u200cWeber, Discusses the \u2064Latest Assault on Our Language, Morals, and Values<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Pastor Tom Hughes and\u2063 Pastor\u200b Billy Crone Discuss Striking \u200dPredictions in the Bible and Modern Day Life<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Investors Pile \u200cinto Taiwan Stocks Despite Geopolitical Tensions<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Top AI Companies \u200bMake Voluntary Commitments \u2064to\u2062 Ethics\u2063 and Safety<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Taiwan Chipmaker Powerchip Semiconductor Manufacturing Corp Aims to\u200b List Joint Venture<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>OpenAI&#8217;s Head of Trust and Safety Dave Willner \u2062Departs from the Company<\/h3>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices climbed on Friday, supported by signs of reduced supplies and economic stimulus in China. Brent futures rose by 94 cents to $80.58 a barrel, reaching a high of $1 earlier. U.S. West Texas Intermediate (WTI) crude also increased by 94 cents.<\/p>\n","protected":false},"author":66,"featured_media":1979266,"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":[542],"tags":[],"class_list":["post-1979265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"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\/1979265","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=1979265"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1979265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1979266"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1979265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1979265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1979265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}