{"id":8709,"date":"2023-05-14T23:39:07","date_gmt":"2023-05-15T03:39:07","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/oil-falls-further-ahead-of-economic-data-deluge-fed-cues\/"},"modified":"2023-05-14T23:39:07","modified_gmt":"2023-05-15T03:39:07","slug":"oil-falls-further-ahead-of-economic-data-deluge-fed-cues","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8709","title":{"rendered":"Oil falls further ahead of economic data deluge, Fed cues"},"content":{"rendered":"<div>\n<p>Investing.com&#8211; Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic growth, with focus now turning to more economic data and a slew of Federal Reserve speakers this week.<\/p>\n<p dir=\"ltr\">Crude markets saw scant support as recent data pointed to worsening economic conditions in the U.S. and China- the world\u2019s two biggest oil consumers. This pushed up concerns that oil demand will see a much slower-than-expected recovery this year, weighing on prices.<\/p>\n<p dir=\"ltr\">Strength in the , which rebounded from over one-year lows, also kept prices under pressure, as markets dialed back bets that the Fed will trim interest rates this year.<\/p>\n<p dir=\"ltr\"> sank 0.7% to $73.67 a barrel, while  fell 0.7% $69.56 a barrel by 21:19 ET (01:19 GMT). Both contracts fell between 1.8% and 2% over the past week.<\/p>\n<p dir=\"ltr\">Focus this week is on a slew of U.S. and Chinese economic indicators, including   and   data from both countries, to gauge the state of their respective economies.<\/p>\n<p dir=\"ltr\">Recent data from China indicates that a post-COVID economic rebound in the world\u2019s largest oil importer is running out of steam, particularly as the country\u2019s massive  struggles with slowing demand.<\/p>\n<p dir=\"ltr\">Chinese  has also failed to pick up despite the lifting of anti-COVID restrictions, indicating that consumers remain wary of spending big in the aftermath of the pandemic.<\/p>\n<p dir=\"ltr\">This has spurred doubts over forecasts that a recovery in China will drive oil demand to record highs this year, even as the OPEC recently doubled down on its forecast for a recovery. A monthly report from the , due on Tuesday, is also expected to provide more cues on that end.<\/p>\n<p dir=\"ltr\">In the U.S., weak  data released on Friday further rattled markets over a slowdown in the world\u2019s largest economy. This was coupled with growing uncertainty over the U.S. debt ceiling, as well as renewed concerns of a banking collapse in the country.<\/p>\n<p dir=\"ltr\">Focus this week is now on a slew of Fed speakers, most notably  on Friday, for more insight into U.S. monetary policy. But signs of stubborn U.S. inflation saw markets rethink expectations that the Fed will , which in turn boosted the dollar and dented oil markets.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/commodities-news\/oil-falls-further-ahead-of-economic-data-deluge-fed-cues-3081921\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investing.com&#8211; Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic growth, with focus now turning to more economic data and a slew of Federal Reserve speakers this week. Crude markets saw scant support as recent data pointed to worsening economic conditions in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-8709","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil falls further ahead of economic data deluge, Fed cues | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=8709\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil falls further ahead of economic data deluge, Fed cues | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com-- Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=8709\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-15T03:39:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/LYNXMPEB5O0JK_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"538\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=8709#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=8709\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Oil falls further ahead of economic data deluge, Fed cues\",\"datePublished\":\"2023-05-15T03:39:07+00:00\",\"dateModified\":\"2023-05-15T03:39:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=8709\"},\"wordCount\":379,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=8709#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=8709\",\"url\":\"https:\/\/ifintechworld.com\/?p=8709\",\"name\":\"Oil falls further ahead of economic data deluge, Fed cues | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-15T03:39:07+00:00\",\"dateModified\":\"2023-05-15T03:39:07+00:00\",\"description\":\"Investing.com-- Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=8709#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=8709\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=8709#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Oil falls further ahead of economic data deluge, Fed cues\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oil falls further ahead of economic data deluge, Fed cues | iFintechWorld","description":"Investing.com-- Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=8709","og_locale":"en_US","og_type":"article","og_title":"Oil falls further ahead of economic data deluge, Fed cues | iFintechWorld","og_description":"Investing.com-- Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic","og_url":"https:\/\/ifintechworld.com\/?p=8709","og_site_name":"iFintechWorld","article_published_time":"2023-05-15T03:39:07+00:00","og_image":[{"width":800,"height":538,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/LYNXMPEB5O0JK_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=8709#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=8709"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Oil falls further ahead of economic data deluge, Fed cues","datePublished":"2023-05-15T03:39:07+00:00","dateModified":"2023-05-15T03:39:07+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=8709"},"wordCount":379,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Commodities"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=8709#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=8709","url":"https:\/\/ifintechworld.com\/?p=8709","name":"Oil falls further ahead of economic data deluge, Fed cues | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-15T03:39:07+00:00","dateModified":"2023-05-15T03:39:07+00:00","description":"Investing.com-- Oil prices retreated further in Asian trade on Monday after logging four straight weeks of losses amid concerns over slowing economic","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=8709#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=8709"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=8709#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Oil falls further ahead of economic data deluge, Fed cues"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/8709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8709"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/8709\/revisions"}],"predecessor-version":[{"id":8710,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/8709\/revisions\/8710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1185"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}