{"id":278009,"date":"2019-06-11T05:51:11","date_gmt":"2019-06-11T05:51:11","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=278009"},"modified":"2019-06-11T06:15:25","modified_gmt":"2019-06-11T06:15:25","slug":"oil-rises-on-supply-cuts-but-weak-economy-holds-market-back","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-on-supply-cuts-but-weak-economy-holds-market-back\/","title":{"rendered":"Oil rises on supply cuts, but weak economy holds market back"},"content":{"rendered":"<p>Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington&#8217;s withdrawal of a tariff threat against Mexico removed a cloud over the global economy.<\/p>\n<p>However, traders said concerns about the health of the global economy and the impact on fuel demand were still weighing on oil market sentiment.<\/p>\n<p>Front-month Brent crude futures were at $63.61 at 0645 GMT, 32 cents, or 0.5 per cent, above Friday&#8217;s close.<\/p>\n<p>US West Texas Intermediate (WTI) crude futures were at $54.32 per barrel, 33 cents, or 0.6 per cent higher.<\/p>\n<p>Traders said crude prices were rising following statements by OPEC&#8217;s biggest producer Saudi Arabia on Friday that the group was close to agreeing to extending supply cuts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington&#8217;s withdrawal of a tariff threat against Mexico removed a cloud over the global economy. However, traders said concerns about the health of the global economy and the impact on fuel demand were still weighing on oil market sentiment. Front-month Brent crude futures were at $63.61 at 0645 GMT, 32 cents, or 0.5 per cent, above Friday&#8217;s close. US West Texas Intermediate (WTI) crude futures were at $54.32 per barrel, 33 cents, or 0.6 per cent higher. Traders said [&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":[130],"tags":[],"class_list":["post-278009","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278009","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=278009"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278009\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=278009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=278009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=278009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}