{"id":584598,"date":"2023-06-15T10:08:42","date_gmt":"2023-06-15T04:38:42","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=584598"},"modified":"2023-06-15T12:11:01","modified_gmt":"2023-06-15T06:41:01","slug":"oil-rises-as-market-awaits-fed-interest-rate-decision","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-as-market-awaits-fed-interest-rate-decision\/","title":{"rendered":"Oil rises as market awaits Fed interest rate decision"},"content":{"rendered":"<p>Oil prices rose on Wednesday after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC and as investors awaited the outcome of the U.S. Federal Reserve&#8217;s June meeting.<\/p>\n<p>Brent crude futures were up 95 cents, or 1.3%, at $75.24 a barrel by 1346 GMT. U.S. West Texas Intermediate (WTI) crude was up 90 cents, or 1.3%, at $70.32.<\/p>\n<p>Both benchmarks climbed more than 3% the previous day on expectations of rising fuel demand after China&#8217;s central bank lowered a short-term lending rate.<\/p>\n<p>Market participants expect the U.S. central bank&#8217;s Federal Open Market Committee (FOMC) to pause interest rate hikes because of uncertainty over the economic outlook and the effects of 10 rate increases since March 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose on Wednesday after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC and as investors awaited the outcome of the U.S. Federal Reserve&#8217;s June meeting. Brent crude futures were up 95 cents, or 1.3%, at $75.24 a barrel by 1346 GMT. U.S. West Texas Intermediate (WTI) crude was up 90 cents, or 1.3%, at $70.32. Both benchmarks climbed more than 3% the previous day on expectations of rising fuel demand after China&#8217;s central bank lowered a short-term lending rate. Market participants expect the U.S. central bank&#8217;s Federal Open Market Committee (FOMC) to pause [&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":[130,191,136],"tags":[],"class_list":["post-584598","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/584598","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=584598"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/584598\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=584598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=584598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=584598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}