{"id":101339,"date":"2023-12-21T10:46:50","date_gmt":"2023-12-21T10:46:50","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand"},"modified":"2023-12-21T11:04:19","modified_gmt":"2023-12-21T11:04:19","slug":"oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand","title":{"rendered":"Oil down as demand woes persist, strong dollar trend trims demand"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>Oil prices fell on Thursday over the double whammy of increasing demand woes and the rising dollar value, discouraging investors in the market trading in more expensive US dollar-indexed oil.<\/p>\n

The International benchmark crude Brent traded at $79.69 per barrel at 0709GMT, a 0.01% decrease from the closing price of $79.70 a barrel in the previous trading session on Wednesday.<\/p>\n

The American benchmark, West Texas Intermediate (WTI), traded at the same time at $74.19 per barrel, down 0.04% from Wednesday\u2019s close of $74.22 per barrel.<\/p>\n

Both benchmarks have been keeping their upward trend over worries about possible disruptions in the Red Sea and Suez Canal because of recent attacks by the Yemeni rebel group Houthis, which have forced carriers to avoid this route.<\/p>\n

However, prices have been pressured down after industrial data revealed a drop in demand in the US, the world\u2019s largest crude oil consuming country.<\/p>\n

According to data released by the Energy Information Administration on Wednesday, US commercial crude oil inventories increased by around 2.9 million barrels to 443.7 million barrels, compared to the American Petroleum Institute\u2019s expectation of a rise of around 939,000 barrels.<\/p>\n

Gasoline inventories also rose by around 2.7 million barrels over the same period.<\/p>\n

Oil prices indexed to the US dollar came under pressure from the bullish trend of the greenback fueled by international currency trends and the anticipation of the PCE price index report, the Federal Reserve\u2019s primary gauge of inflation. This upcoming data could be a game-changer for the dollar, given that the Fed pushing back against the notion of swift rate cuts next year.<\/p>\n

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

Africa-Press – Tanzania. Oil prices fell on Thursday over the double whammy of increasing demand woes and the rising dollar value, discouraging investors in the market trading in more expensive US dollar-indexed oil. The International benchmark crude Brent traded at $79.69 per barrel at 0709GMT, a 0.01% decrease from the closing price of $79.70 a […]<\/p>\n","protected":false},"author":84,"featured_media":101338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,8842,3568,711,8843],"class_list":["post-101339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-brent","tag-oil-prices","tag-tanzania","tag-wti"],"yoast_head":"\nOil down as demand woes persist, strong dollar trend trims demand - Tanzania<\/title>\n<meta name=\"description\" content=\"Oil prices fell on Thursday over the double whammy of increasing demand woes and the rising dollar value, discouraging i ...\" \/>\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\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil down as demand woes persist, strong dollar trend trims demand\" \/>\n<meta property=\"og:description\" content=\"Oil prices fell on Thursday over the double whammy of increasing demand woes and the rising dollar value, discouraging i ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-21T10:46:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-21T11:04:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/12\/sm_1703143951.89269.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\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil down as demand woes persist, strong dollar trend trims demand\",\"datePublished\":\"2023-12-21T10:46:50+00:00\",\"dateModified\":\"2023-12-21T11:04:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand\"},\"wordCount\":280,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2023\/12\/sm_1703143951.89269.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"Brent\",\"oil prices\",\"tanzania\",\"WTI\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/oil-down-as-demand-woes-persist-strong-dollar-trend-trims-demand\",\"name\":\"Oil down as demand woes persist, strong dollar trend trims demand - 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