{"id":4147,"date":"2023-03-10T14:41:56","date_gmt":"2023-03-10T14:41:56","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=4147"},"modified":"2023-03-10T14:41:58","modified_gmt":"2023-03-10T14:41:58","slug":"oil-prices-tick-up-after-buoyant-u-s-payrolls-but-set-for-weekly-drop","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/4147\/","title":{"rendered":"Oil prices tick up after buoyant U.S. payrolls, but set for weekly drop"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>Oil prices edged higher on Friday buoyed by better-than-expected U.S. employment data though both benchmarks remained on course to fall more than 4% on the week amid U.S. interest rate hike jitters.<\/p>\n\n\n\n<p>Brent rose 43 cents, or 0.5%, to $82.02 a barrel by 1344 GMT. U.S. West Texas Intermediate crude (WTI) was up 36cents, or 0.5%, at $76.08.<\/p>\n\n\n\n<p>Expectations of further rate hikes in the world&#8217;s largest economy and in Europe have clouded the global growth outlook and driven both crude benchmarks down more than 4% so far this week, their worst drop since early February.<\/p>\n\n\n\n<p>A strengthening dollar&nbsp;<\/p>\n\n\n\n<p>U.S. Federal Reserve Chair Jerome Powell has warned of\u00a0higher and potentially faster\u00a0rate hikes, saying the Fed was wrong in initially thinking inflation was &#8220;transitory&#8221;. Its next decision meeting is planned for March 21-22.<\/p>\n\n\n\n<p>Broader U.S. employment data for February released on Friday beat expectations with nonfarm payrolls rising by 311,000, compared with a expectations of\u00a0205,000\u00a0jobs added, according to a Reuters survey. This will likely ensure that the Federal Reserve will\u00a0raise interest rates\u00a0for longer, which analysts have said would weigh on oil prices.<\/p>\n\n\n\n<p>On the supply side, the United States was reported to have privately urged some commodity traders to shed concerns about shipping price-capped Russian oil in a bid to shore up supply.<\/p>\n\n\n\n<p>Investors are closely monitoring export cuts from Russia, which decided to trim oil output by\u00a0500,000 barrels per day\u00a0in March.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-03-10T14:41:58+00:00\"> 10 March 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"Oil prices edged higher on Friday buoyed by better-than-expected U.S. employment data though both benchmarks remained on course to fall more than 4% on the week amid U.S. interest rate hike jitters. Brent rose 43 cents, or 0.5%, to $82.02 a barrel by 1344 GMT. U.S. West Texas Intermediate crude (WTI) was up 36cents, or [&hellip;]","protected":false},"author":1,"featured_media":4148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,16],"tags":[],"services":[],"class_list":["post-4147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/4147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=4147"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/4147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/4148"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=4147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=4147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=4147"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=4147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}