{"id":275896,"date":"2019-05-24T04:59:08","date_gmt":"2019-05-24T04:59:08","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=275896"},"modified":"2019-05-24T08:24:11","modified_gmt":"2019-05-24T08:24:11","slug":"oil-prices-plunge-over-5-to-67-as-us-china-trade-tensions-intensify","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-plunge-over-5-to-67-as-us-china-trade-tensions-intensify\/","title":{"rendered":"Oil prices plunge over 5% to $67 as US-China trade tensions intensify"},"content":{"rendered":"<p>Oil prices slumped more than 5 per cent on Thursday on growing trade tensions, which have deepened over the US blackballing Chinese telecom giant Huawei. <\/p>\n<p>Around 11.20 pm (IST), Brent crude was down $3.62 a barrel at $67.37. The Chinese behemoth is reeling after US President Donald Trump effectively banned US firms from supplying the firm and its affiliates with critical components, citing security concerns, prompting a slew of tech firms to suspend transactions with Huawei and phase out using its equipment in network infrastructure. <\/p>\n<p>\u201cOil prices remain under pressure, extending this week&#8217;s falls amid surging US crude inventories and weak demand from refineries,\u201d said Oanda analyst Dean Popplewell, noting latest data showed crude oil inventories at a two-year high due to weak refinery demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices slumped more than 5 per cent on Thursday on growing trade tensions, which have deepened over the US blackballing Chinese telecom giant Huawei. Around 11.20 pm (IST), Brent crude was down $3.62 a barrel at $67.37. The Chinese behemoth is reeling after US President Donald Trump effectively banned US firms from supplying the firm and its affiliates with critical components, citing security concerns, prompting a slew of tech firms to suspend transactions with Huawei and phase out using its equipment in network infrastructure. \u201cOil prices remain under pressure, extending this week&#8217;s falls amid surging US crude inventories and [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-275896","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/275896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=275896"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/275896\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=275896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=275896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=275896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}