{"id":17128,"date":"2023-05-18T10:44:53","date_gmt":"2023-05-18T10:44:53","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us"},"modified":"2023-05-18T11:01:21","modified_gmt":"2023-05-18T11:01:21","slug":"oil-down-with-fuel-demand-risks-in-us","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us","title":{"rendered":"Oil down with fuel demand risks in US"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Oil prices fell on Thursday as economic data raised concerns about oil demand in the world’s largest oil consumer, the US.<\/p>\n

International benchmark Brent crude traded at $76.69 per barrel at 09.54 a.m. local time (0654 GMT), a 0.35% decrease from the closing price of $76.96 a barrel in the previous trading session.<\/p>\n

The American benchmark West Texas Intermediate (WTI) traded at the same time at $72.56 per barrel, down 0.37% from the previous session’s close of $72.83 per barrel.<\/p>\n

The Energy Information Administration (EIA) data released late Wednesday showed a jump of 5 million barrels in crude oil inventories, raising concerns about demand and driving down prices.<\/p>\n

Talks on raising the US debt ceiling have also put pressure on prices.<\/p>\n

Negotiations between US President Joe Biden and Republican leaders continue over raising the debt ceiling.<\/p>\n

Biden said Wednesday that he is “confident” his team and congressional leaders will strike a deal to ensure the country does not default on its national debt.<\/p>\n

The US is facing a June 1 deadline to raise the debt ceiling\u2014the amount the country is legally allowed to borrow\u2014or face a default that would send shockwaves through the global economy.<\/p>\n

If no deal is agreed upon, the US could default on its $31 trillion debt on June 1, sparking fears of a recession with severe implications worldwide.<\/p>\n

Biden intends to hold a news conference on the negotiations on Sunday.<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. Oil prices fell on Thursday as economic data raised concerns about oil demand in the world’s largest oil consumer, the US. International benchmark Brent crude traded at $76.69 per barrel at 09.54 a.m. local time (0654 GMT), a 0.35% decrease from the closing price of $76.96 a barrel in the previous trading […]<\/p>\n","protected":false},"author":84,"featured_media":17127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,1215,233,529,1216],"class_list":["post-17128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eritrea","tag-brent","tag-eritrea","tag-oil","tag-wti"],"yoast_head":"\nOil down with fuel demand risks in US - Eritrea<\/title>\n<meta name=\"description\" content=\"Oil prices fell on Thursday as economic data raised concerns about oil demand in the world's largest oil consumer, the U ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil down with fuel demand risks in US\" \/>\n<meta property=\"og:description\" content=\"Oil prices fell on Thursday as economic data raised concerns about oil demand in the world's largest oil consumer, the U ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-18T10:44:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-18T11:01:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/05\/postQueueImg_1684390505.12.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil down with fuel demand risks in US\",\"datePublished\":\"2023-05-18T10:44:53+00:00\",\"dateModified\":\"2023-05-18T11:01:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us\"},\"wordCount\":247,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/05\/postQueueImg_1684390505.12.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Brent\",\"Eritrea\",\"Oil\",\"WTI\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-with-fuel-demand-risks-in-us\",\"name\":\"Oil down with fuel demand risks in US - 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