{"id":70427,"date":"2021-10-12T11:26:29","date_gmt":"2021-10-12T09:26:29","guid":{"rendered":"https:\/\/test2023.luxus-plus.com\/?p=70427"},"modified":"2021-10-12T11:27:56","modified_gmt":"2021-10-12T09:27:56","slug":"stock-market-oil-prices-rise-for-the-fourth-day-in-a-row","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/stock-market-oil-prices-rise-for-the-fourth-day-in-a-row\/","title":{"rendered":"Stock Market : Oil prices rise for the fourth day in a row"},"content":{"rendered":"

Oil prices continue to rise, and have surpassed their pre-pandemic levels : the rise continues for the fourth consecutive day as global energy demand increases sharply, causing energy shortages in developed countries.<\/h4>\n

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Brent crude<\/strong> rose 0.3% to 83.86 a barrel, its highest level<\/strong> in more than three years, after gaining 1.5% on Monday.<\/p>\n

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US oil<\/strong> rose 0.2% to $80.65 a barrel, its highest level<\/strong> in seven years, after also gaining 1.5% in the previous session.<\/p>\n

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The rise was mainly due to energy shortages<\/strong> in the world’s major economies. Problems with gas and coal supplies<\/strong> are leading governments to turn to oil. “High gas and coal prices raise the prospect of increased reliance on oil for power generation<\/strong><\/em>,” says James Whistler<\/strong>, global head of energy derivatives at SSY<\/strong> in Singapore.<\/p>\n

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The switch from natural gas to oil for power generation could increase global demand for crude by 250,000 to 750,000 barrels per day<\/strong>, analysts say.<\/p>\n

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The energy price hikes, which are affecting the world’s biggest economies, are adding to inflationary pressures<\/strong> in recovering economies, such as Japan, where inflation was at its highest level in September.<\/p>\n

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Qatar<\/strong>, the world’s largest producer of liquefied natural gas (LNG)<\/strong>, told customers on Monday it was not in a position to help bring down energy prices and supply more fuel to the market. “We are at the maximum, as far as we have given all our customers their due quantities,” said Qatari Energy Minister Saad al-Kaabi. “I am unhappy that gas prices are so high.<\/p>\n

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Read Also > RENEWED STRENGTH IN CHINESE MARKETS LEADS TO STABILISATION OF ASIAN STOCK MARKETS<\/a><\/p>\n

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Featured Photo : \u00a9 Getty Images<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices continue to rise, and have surpassed their pre-pandemic levels : the rise continues for the fourth consecutive day as global energy demand increases sharply, causing energy shortages in developed countries.  <\/p>\n","protected":false},"author":1,"featured_media":70457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"%%post_title%% %%sep%% %%sitetitle%%","_seopress_titles_desc":"Oil prices continue to rise, and have surpassed their pre-pandemic levels : the rise continues for the fourth consecutive day as global energy demand increases sharply.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"Oil,Curde,Brent curde,US Oil,Shortage,Gas,Coal,energy,Qatar,Japan,Inflation","footnotes":""},"categories":[24],"tags":[22419],"class_list":["post-70427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-news-en"],"_links":{"self":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts\/70427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/comments?post=70427"}],"version-history":[{"count":0,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts\/70427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/media\/70457"}],"wp:attachment":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/media?parent=70427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/categories?post=70427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/tags?post=70427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}