{"id":130648,"date":"2024-11-11T18:56:49","date_gmt":"2024-11-11T18:56:49","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors"},"modified":"2024-11-11T19:11:28","modified_gmt":"2024-11-11T19:11:28","slug":"oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors","title":{"rendered":"Oil prices fall as Beijing’s latest stimulus disappoints investors"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Oil prices slipped Monday after Beijing’s latest stimulus measures disappointed investors hoping for stronger demand growth in the world\u2019s second-largest oil consumer.<\/p>\n

The international oil benchmark of Brent crude fell by 0.2% to $73.73 per barrel at 10.37 a.m. local time (0737 GMT), down from the previous session’s close of $73.88.<\/p>\n

The US benchmark West Texas Intermediate also declined by 0.27% to $70.06 per barrel, compared to $70.25 at the prior session’s close.<\/p>\n

China’s National People’s Congress Standing Committee unveiled a debt package on Friday to ease local government financing strains and stabilize flagging economic growth.<\/p>\n

The debt limit increase will be spread out over three years, or 2 trillion yuan ($279.2 billion) a year, Finance Minister Lan Foan said at the NPCSC in Beijing.<\/p>\n

However, Beijing’s stimulus package fell short of market expectations, particularly amid the threat of massive tariffs under President-elect Donald Trump’s incoming administration.<\/p>\n

“Investors also remained concerned around the impacts of Trump’s promised tariffs on China’s economic growth, which may crimp oil demand,” Daniel Hynes, a commodity strategist at the Australia and New Zealand Banking Group, said in an e-mail note.<\/p>\n

“Further, expectations that the next US administration will renew a clampdown on Iran via tighter sanctions have raised supply concerns in the short-term with tensions intensifying in the Middle East. Investors have increased bullish bets on oil amid increasing supply uncertainty,” Hynes added.<\/p>\n

Prices also eased after the threat of supply disruption from Hurricane Rafael in the US Gulf of Mexico subsided.<\/p>\n

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

Africa-Press – Kenya. Oil prices slipped Monday after Beijing’s latest stimulus measures disappointed investors hoping for stronger demand growth in the world\u2019s second-largest oil consumer. The international oil benchmark of Brent crude fell by 0.2% to $73.73 per barrel at 10.37 a.m. local time (0737 GMT), down from the previous session’s close of $73.88. The […]<\/p>\n","protected":false},"author":84,"featured_media":130647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[544,2907],"class_list":["post-130648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-kenya","tag-oil"],"yoast_head":"\nOil prices fall as Beijing's latest stimulus disappoints investors - kenya<\/title>\n<meta name=\"description\" content=\"Oil prices slipped Monday after Beijing's latest stimulus measures disappointed investors hoping for stronger demand gro ...\" \/>\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\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil prices fall as Beijing's latest stimulus disappoints investors\" \/>\n<meta property=\"og:description\" content=\"Oil prices slipped Monday after Beijing's latest stimulus measures disappointed investors hoping for stronger demand gro ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-11T18:56:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-11T19:11:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/11\/sm_1731339549.839114.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\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil prices fall as Beijing’s latest stimulus disappoints investors\",\"datePublished\":\"2024-11-11T18:56:49+00:00\",\"dateModified\":\"2024-11-11T19:11:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors\"},\"wordCount\":270,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/11\/sm_1731339549.839114.jpg\",\"keywords\":[\"Kenya\",\"Oil\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-fall-as-beijings-latest-stimulus-disappoints-investors\",\"name\":\"Oil prices fall as Beijing's latest stimulus disappoints investors - 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