{"id":12930,"date":"2025-04-22T08:38:36","date_gmt":"2025-04-22T08:38:36","guid":{"rendered":"https:\/\/uaenewsroom.com\/oil-prices-hit-4-month-low-on-concerns-about-us-chinese-economy\/"},"modified":"2025-04-22T08:38:36","modified_gmt":"2025-04-22T08:38:36","slug":"oil-prices-hit-4-month-low-on-concerns-about-us-chinese-economy","status":"publish","type":"post","link":"https:\/\/uaenewsroom.com\/en\/oil-prices-hit-4-month-low-on-concerns-about-us-chinese-economy\/","title":{"rendered":"Oil prices hit 4-month low on concerns about US, Chinese economy"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"img-wrap\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes\/import\/images\/6vOl_8txOSGMU5mTJrqbjU2oImw.jpg?width=1200&amp;format=auto\" alt=\"\" height=\"696\" width=\"1024\"\/><\/div>\n<p>Oil prices dropped more than 5 per cent on Thursday to their lowest in four months, as investors worried about global oil demand following weak data from the US and Asia.<\/p>\n<p>Brent futures fell $4.38, or 5.4 per cent, to $76.80 a barrel by 1:02 p.m. EST (1802 GMT). US West Texas Intermediate crude (WTI) shed $4.27, or 5.5 per cent, to $72.39. Both contracts traded at their lowest since July 7.<\/p>\n<p>Both WTI and Brent&#8217;s front-month contracts also traded below the prices for the second month, a structure known as contango.<\/p>\n<p>\u201cThe mood is negative, the charts are negative,\u201d said Phil Flynn, an analyst at Price Futures Group. \u201cIt&#8217;s going to take something to change that mood, and until then people will ride it down until they realize it&#8217;s overdone.\u201d<\/p>\n<p>The number of Americans filing new claims for unemployment benefits increased to a three-month high last week, suggesting that labor market conditions continued to ease.<\/p>\n<p>The report came after other data that showed US retail sales fell for the&#8230;<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.khaleejtimes.com\/business\/oil-prices-hit-4-month-low-on-concerns-about-us-chinese-economy\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices dropped more than 5 per cent on Thursday to their lowest in four months, as investors worried about global oil demand following weak data from the US and Asia. Brent futures fell $4.38, or 5.4 per cent, to $76.80 a barrel by 1:02 p.m. EST (1802 GMT). US West Texas Intermediate crude (WTI) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126,2],"tags":[],"class_list":{"0":"post-12930","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business","7":"category-business-ar"},"_links":{"self":[{"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/posts\/12930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/comments?post=12930"}],"version-history":[{"count":0,"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/posts\/12930\/revisions"}],"wp:attachment":[{"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/media?parent=12930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/categories?post=12930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uaenewsroom.com\/en\/wp-json\/wp\/v2\/tags?post=12930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}