{"id":242071,"date":"2024-02-06T07:55:34","date_gmt":"2024-02-06T02:25:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=242071"},"modified":"2024-02-06T07:55:34","modified_gmt":"2024-02-06T02:25:34","slug":"wti-recovers-some-lost-ground-near-73-00-amid-ongoing-middle-east-tension-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/wti-recovers-some-lost-ground-near-73-00-amid-ongoing-middle-east-tension-crypto-news\/","title":{"rendered":"WTI recovers some lost ground near $73.00 amid ongoing Middle East tension &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>WTI prices attract some buyers near $72.90 amid the ongoing Middle East tension.\u00a0<\/strong><\/li>\n<li><strong>The upbeat US economic data might convince the Federal Reserve (Fed) to keep its benchmark rate higher for longer.\u00a0<\/strong><\/li>\n<li><strong>The US launched retaliatory airstrikes on Friday against Iran\u2019s Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria.<\/strong><\/li>\n<\/ul>\n<p>Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.90 on Tuesday. WTI prices edge higher on the modest decline of <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">US Dollar<\/a> (USD). The downside of WTI prices might be capped by concerns that tensions in the Middle East and Russia&#8217;s ongoing invasion of Ukraine could curb global supplies.<\/p>\n<p>The stronger-than-expected US PMI and <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/economic-indicator\/nfp\">Nonfarm Payrolls<\/a> (NFP) data might convince the Federal Reserve (Fed) to keep its benchmark rate higher for longer, which would lift the Greenback broadly and exert some selling pressure on WTI prices. The ISM showed on Monday that the US Services PMI rose to 53.4 in January from 50.5 in December.<\/p>\n<p>On the other hand, the geopolitical tensions in the Middle East might cap the downside of <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/markets\/commodities\/energy\/oil\">oil prices<\/a>. The United States started retaliatory airstrikes Friday against Iran&#8217;s Islamic Revolutionary Guard Corps and associated forces in Iraq and Syria. The attacks, which targeted over 85 locations, were in reaction to the deaths of three US servicemen in a drone strike by Iranian insurgents.<\/p>\n<p>The US launched retaliatory airstrikes on Friday against Iran\u2019s Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria. The airstrikes, which hit\u00a0more than 85 targets, came in response to the deaths of three US troops in a drone strike by Iran-allied militants. This, in turn, might cap the downside of WTI prices in the near term.\u00a0<\/p>\n<p>Oil traders will monitor the Chinese Consumer <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Price Index<\/a> (CPI) and Producer Price Index (PPI) for January on Thursday. The weaker-than-expected data could weigh on WTI prices, as China is the world&#8217;s second-largest oil consumer.\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: WTI prices attract some buyers near $72.90 amid the ongoing Middle East tension.\u00a0 The upbeat US economic data might convince the Federal Reserve (Fed) to keep its benchmark rate higher for longer.\u00a0 The US launched retaliatory airstrikes on Friday against Iran\u2019s Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria. Western Texas [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":13005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,351,257,255,250,683,252,247,253,249,256,254,664],"class_list":["post-242071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-commodities","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oil","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress","tag-wti"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/242071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=242071"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/242071\/revisions"}],"predecessor-version":[{"id":242072,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/242071\/revisions\/242072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/13005"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=242071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=242071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=242071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}