{"id":525104,"date":"2022-09-27T10:12:05","date_gmt":"2022-09-27T04:42:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=525104"},"modified":"2022-09-27T11:15:04","modified_gmt":"2022-09-27T05:45:04","slug":"oil-prices-hit-nine-month-low-on-recession-fears-us-dollar-surge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-hit-nine-month-low-on-recession-fears-us-dollar-surge\/","title":{"rendered":"Oil prices hit nine-month low on recession fears, US dollar surge"},"content":{"rendered":"<p>Oil prices hit nine-month lows on Monday, driven down by an expected decline in fuel demand as rising interest rates raise the likelihood of global recession, with further price pressure coming from a surging U.S. dollar.<\/p>\n<p>Brent crude futures for November settlement slipped by 82 cents, or 1%, to $85.33 a barrel at 1110 GMT. The contract fell as low as $84.51, the lowest since Jan. 14.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude for November delivery dropped 74 cents, or 0.9%, to $78. WTI dropped as low as $77.21, the lowest since Jan. 6.<\/p>\n<p>Both contracts slumped by about 5% on Friday.<\/p>\n<p>The dollar index that measures the greenback against a basket of major currencies climbed to a 20-year high on Monday. A stronger dollar tends to curtail demand for dollar-denominated oil.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices hit nine-month lows on Monday, driven down by an expected decline in fuel demand as rising interest rates raise the likelihood of global recession, with further price pressure coming from a surging U.S. dollar. Brent crude futures for November settlement slipped by 82 cents, or 1%, to $85.33 a barrel at 1110 GMT. The contract fell as low as $84.51, the lowest since Jan. 14. U.S. West Texas Intermediate (WTI) crude for November delivery dropped 74 cents, or 0.9%, to $78. WTI dropped as low as $77.21, the lowest since Jan. 6. Both contracts slumped by about 5% [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-525104","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/525104","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=525104"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/525104\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=525104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=525104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=525104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}