{"id":6085,"date":"2023-09-27T11:39:20","date_gmt":"2023-09-27T03:39:20","guid":{"rendered":"https:\/\/www.umtradings.com\/?p=4915"},"modified":"2023-11-13T07:19:38","modified_gmt":"2023-11-13T07:19:38","slug":"supply-chain-tensions-help-crude-prices-hover-higher","status":"publish","type":"post","link":"https:\/\/www.umtradings.com\/it\/supply-chain-tensions-help-crude-prices-hover-higher\/","title":{"rendered":"Supply Chain Tensions Causes Crude Prices To Hover Higher\u00a0"},"content":{"rendered":"<div class=\"wp-block-post-date has-text-color has-black-color has-medium-font-size\"><a href=\"https:\/\/www.umtradings.com\/it\/supply-chain-tensions-help-crude-prices-hover-higher\/\"><time datetime=\"2023-09-27T11:39:20+00:00\">September 27, 2023<\/time><\/a><\/div>\n\n\n<div style=\"color:#ddd\" class=\"wp-block-genesis-blocks-gb-spacer gb-block-spacer gb-divider-solid gb-divider-size-1\"><hr style=\"height:30px\"\/><\/div>\n\n\n\n<h1 class=\"wp-block-heading has-black-color has-text-color\"><strong>How Supply Chain Tensions Impact Crude Oil Prices in October 2023<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.api.org\/products-and-services\/statistics\/api-weekly-statistical-bulletin#tab-data\" target=\"_blank\" rel=\"noopener nofollow\" title=\"API's Weekly Statistic Bulletin\">American Petroleum Institute&#8217;s weekly statistical report<\/a> shows that U.S. crude oil inventories increased by 1.586 million barrels in the week ending September 22, 2023, after a decrease of 5.25 million barrels in the previous week. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">WTI crude futures rebounded to $90.7 a barrel, hovering at their highest level since November. The prospect of tight supplies helped markets shake off worries about rising interest rates and their impact on the economy. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The $90 pivot point is psychologically important and reinforces the belief that the market is poised for further upside. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, crude oil tends to perform well in inflationary environments as investors seek refuge in tangible assets rather than currencies.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.umtradings.com\/wp-content\/uploads\/2023\/09\/1-10-2.png\" alt=\"\" class=\"wp-image-4916\"\/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center has-small-font-size wp-block-paragraph\"><em>(United States API Crude Oil Stock Change)&nbsp;<\/em><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.umtradings.com\/wp-content\/uploads\/2023\/09\/2-8-1.png\" alt=\"\" class=\"wp-image-4917\"\/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center has-small-font-size wp-block-paragraph\"><em>(WTI crude Daily chart)&nbsp;<\/em><\/p>\n\n\n\n<div style=\"color:#ddd\" class=\"wp-block-genesis-blocks-gb-spacer gb-block-spacer gb-divider-solid gb-divider-size-1\"><hr style=\"height:30px\"\/><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><em>Disclaimer&nbsp;&nbsp;<\/em><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\"><em>Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How Supply Chain Tensions Impact Crude Oil Prices in October 2023 The American Petroleum Institute&#8217;s weekly statistical report shows that U.S. crude oil inventories increased by 1.586 million barrels in the week ending September 22, 2023, after a decrease of 5.25 million barrels in the previous week. WTI crude futures rebounded to $90.7 a barrel, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":5174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[20,21],"tags":[57],"class_list":["post-6085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market_news","category-latest","tag-oil"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/posts\/6085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/comments?post=6085"}],"version-history":[{"count":0,"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/posts\/6085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/media\/5174"}],"wp:attachment":[{"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/media?parent=6085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/categories?post=6085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.umtradings.com\/it\/wp-json\/wp\/v2\/tags?post=6085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}