{"id":14826,"date":"2022-09-08T14:15:49","date_gmt":"2022-09-08T06:15:49","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=14826"},"modified":"2022-09-08T14:15:51","modified_gmt":"2022-09-08T06:15:51","slug":"oil-prices-sink-to-lowest-levels-since-january","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=14826","title":{"rendered":"Oil prices sink to lowest levels since January"},"content":{"rendered":"\n

NEW YORK, Sept\u00a08<\/strong> — Oil prices fell sharply on Wednesday, pressured by mounting fears that a global economic slowdown would hurt demand for fuel.<\/p>\n\n\n\n

The West Texas Intermediate for October delivery shed US$4.94, or 5.7 per cent, to settle at US$81.94 a barrel on the New York Mercantile Exchange. Brent crude for November delivery decreased US$4.83, or 5.2 per cent, to settle at US$88 a barrel on the London ICE Futures Exchange.<\/p>\n\n\n\n

Both the US and the global crude benchmarks settled at their lowest levels since January, according to Dow Jones Market Data.<\/p>\n\n\n

\n
\"oil\"<\/figure><\/div>\n\n\n

The pullback came as traders grew fearful that major central banks’ aggressive policy tightening to curb inflation would lead to a recession, dampening demand for energy.<\/p>\n\n\n\n

The European Central bank is widely expected to approve a big rate hike when it meets on Thursday. Meanwhile, recent US economic data reinforced expectations that the Federal Reserve will remain hawkish.<\/p>\n\n\n\n

Investors also looked to data on US crude stockpiles as the Energy Information Administration is set to release its weekly petroleum status report on Thursday. Analysts polled by S&P Global Commodity Insights forecast US crude inventories to show a fall of 1.8 million barrels for the week ending Sept 2.<\/p>\n\n\n\n

NMT<\/a> as reported by Bernama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Sept\u00a08 — Oil prices fell sharply on Wednesday, pressured by mounting fears that…<\/p>\n","protected":false},"author":1,"featured_media":8960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,59],"tags":[],"class_list":["post-14826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-world"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32-300x186.png",300,186,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> World<\/a>","tag_info":"World","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14826"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14826\/revisions"}],"predecessor-version":[{"id":14827,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14826\/revisions\/14827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/8960"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}