{"id":11785,"date":"2021-07-13T19:08:47","date_gmt":"2021-07-13T19:08:47","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/07\/13\/crude-oil-futures-settle-sharply-higher\/"},"modified":"2021-07-13T19:08:47","modified_gmt":"2021-07-13T19:08:47","slug":"crude-oil-futures-settle-sharply-higher","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/07\/13\/crude-oil-futures-settle-sharply-higher\/","title":{"rendered":"Crude Oil Futures Settle Sharply Higher"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Crude oil prices rose sharply on Tuesday amid expectations crude stockpiles may have dropped last week.<\/p>\n<p>Analysts expect data from Energy Information Administration, due on Wednesday, will likely show a drop of about 4.4 million barrels last week.<\/p>\n<p>Fears over the spread of the highly infectious Delta virus capped oil&#8217;s uptick.<\/p>\n<p>West Texas Intermediate Crude oil futures for August ended up by $1.15 or about 1.6% at $75.25 a barrel.<\/p>\n<p>The American Petroleum Institute (API) will release its weekly oil report later today, while the Energy Information Administration (EIA) will release its weekly inventory data Wednesday morning.<\/p>\n<p>In its latest monthly oil market report, the International Energy Agency (IEA) said that oil <span class=\"landLinks\">markets<\/span> will likely remain volatile until there is clarity on OPEC+ production policy.<\/p>\n<p>&#8220;Volatility does not help ensure orderly and secure energy transitions \u2014 nor is it in the interest of either producers or consumers,&#8221; the IEA said.<\/p>\n<p>Consumer prices in the U.S. saw the biggest monthly increase in thirteen years in the month of June, according to a report released by the Labor Department on Tuesday.<\/p>\n<p>The Labor Department said its consumer price index jumped by 0.9% in June after climbing by 0.6% in May. Economists had expected consumer prices to rise by 0.5%.<\/p>\n<p>The annual rate of consumer price growth accelerated to 5.4% in June from 5% in May, reaching the highest level since a matching spike in August of 2008.<\/p>\n<p>Core consumer prices were up by 4.5% percent year-over-year in June, reflecting an acceleration from the 3.8% jump in May. Core prices saw the biggest annual increase since November of 1991. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Crude Oil Futures Settle Sharply Higher<\/a><br \/>\n<br \/>2021-07-13 19:08:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices rose sharply on Tuesday amid expectations crude stockpiles may have dropped last week. Analysts expect data from Energy Information Administration, due on Wednesday, will likely show a&#8230;<\/p>\n","protected":false},"author":2,"featured_media":11786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1585504256855-6718f7a693ae?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=934&q=80","fifu_image_alt":"","footnotes":""},"categories":[28],"tags":[],"class_list":["post-11785","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/11785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=11785"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/11785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/11786"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=11785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=11785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=11785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}