{"id":20038,"date":"2023-08-07T10:13:44","date_gmt":"2023-08-07T10:13:44","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies"},"modified":"2023-08-07T10:32:56","modified_gmt":"2023-08-07T10:32:56","slug":"oil-down-on-profit-taking-after-price-rises-over-tightening-supplies","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies","title":{"rendered":"Oil down on profit-taking after price rises over tightening supplies"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Oil prices recorded a limited decline on Monday from Friday’s highs, with speculators benefiting from Saudi Arabia and Russia’s pledges to curb supplies in the coming month.<\/p>\n

International benchmark Brent crude traded at $86.07 per barrel at 09.51 a.m. local time (0651 GMT), a 0.19% loss from the closing price on Friday of $86.24 per barrel.<\/p>\n

The American benchmark West Texas Intermediate (WTI) traded at the same time at $82.66 per barrel, down 0.19% from the session close of $82.82 per barrel on Friday.<\/p>\n

The price of Brent on Friday surpassed $86 a barrel over supply worries after Saudi Arabia and Russia announced plans to extend existing supply curbs.<\/p>\n

Both benchmarks started the week with limited declines as investors cashed out on higher prices from last week\u2019s trading session.<\/p>\n

The slow pace of China\u2019s economic recovery, as well as the extent to which Saudi Arabia and Russia would reduce production and exports due to diminished global crude stocks, are restraining further price declines.<\/p>\n

Investors will be monitoring the upcoming reports from OPEC and the International Energy Agency, which will present information on the condition of the oil market, statistics on supply and demand and market projections.<\/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 recorded a limited decline on Monday from Friday’s highs, with speculators benefiting from Saudi Arabia and Russia’s pledges to curb supplies in the coming month. International benchmark Brent crude traded at $86.07 per barrel at 09.51 a.m. local time (0651 GMT), a 0.19% loss from the closing price on Friday […]<\/p>\n","protected":false},"author":84,"featured_media":20037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,1215,233,834,1216],"class_list":["post-20038","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-opec","tag-wti"],"yoast_head":"\nOil down on profit-taking after price rises over tightening supplies - Eritrea<\/title>\n<meta name=\"description\" content=\"Oil prices recorded a limited decline on Monday from Friday's highs, with speculators benefiting from Saudi Arabia and R ...\" \/>\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-on-profit-taking-after-price-rises-over-tightening-supplies\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil down on profit-taking after price rises over tightening supplies\" \/>\n<meta property=\"og:description\" content=\"Oil prices recorded a limited decline on Monday from Friday's highs, with speculators benefiting from Saudi Arabia and R ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies\" \/>\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=\"2023-08-07T10:13:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-07T10:32:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/08\/sm_1691388025.306991.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1724\" \/>\n\t<meta property=\"og:image:height\" content=\"1145\" \/>\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=\"1 minute\" \/>\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-on-profit-taking-after-price-rises-over-tightening-supplies#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil down on profit-taking after price rises over tightening supplies\",\"datePublished\":\"2023-08-07T10:13:44+00:00\",\"dateModified\":\"2023-08-07T10:32:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies\"},\"wordCount\":214,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/08\/sm_1691388025.306991.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Brent\",\"Eritrea\",\"OPEC\",\"WTI\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-down-on-profit-taking-after-price-rises-over-tightening-supplies\",\"name\":\"Oil down on profit-taking after price rises over tightening supplies - 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