{"id":522790,"date":"2022-09-17T11:12:35","date_gmt":"2022-09-17T05:42:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=522790"},"modified":"2022-09-17T11:12:35","modified_gmt":"2022-09-17T05:42:35","slug":"oil-ticks-up-but-on-track-for-weekly-loss-on-recession-fears","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-ticks-up-but-on-track-for-weekly-loss-on-recession-fears\/","title":{"rendered":"Oil ticks up, but on track for weekly loss on recession fears"},"content":{"rendered":"<p>SINGAPORE: Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand.<\/p>\n<p>Brent crude futures were up 56 cents, or 0.6%, to $91.40 a barrel as at 0610 GMT, but were down 1.5% for the week so far.<\/p>\n<p>US West Texas Intermediate (WTI) crude futures gained 42 cents, or 0.5%, to $85.52 a barrel, but were down 1.4% on a weekly basis.<\/p>\n<p>&#8220;Today&#8217;s morning rebound for oil prices can only be described as a short-term correction, as the Fed will raise interest rates by 75bp or 100bp next week,&#8221; said Leon Li, an analyst at CMC Markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE: Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand. Brent crude futures were up 56 cents, or 0.6%, to $91.40 a barrel as at 0610 GMT, but were down 1.5% for the week so far. US West Texas Intermediate (WTI) crude futures gained 42 cents, or 0.5%, to $85.52 a barrel, but were down 1.4% on a weekly basis. &#8220;Today&#8217;s morning rebound for oil prices can only be described as a short-term correction, as the Fed will raise [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-522790","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/522790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=522790"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/522790\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=522790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=522790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=522790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}