{"id":282446,"date":"2019-07-16T05:39:10","date_gmt":"2019-07-16T05:39:10","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=282446"},"modified":"2019-07-16T05:52:00","modified_gmt":"2019-07-16T05:52:00","slug":"oil-skids-below-60-amid-concerns-about-chinese-economy","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-skids-below-60-amid-concerns-about-chinese-economy\/","title":{"rendered":"Oil skids below $60 amid concerns about Chinese economy"},"content":{"rendered":"<p>Oil tumbled below $60 a barrel as a tropical storm that shut almost three-quarters of U.S. Gulf of Mexico production moved inland while China fuelled concerns about demand growth.<\/p>\n<p>Futures closed 1.1% lower in New York, the biggest loss in almost two weeks. With Hurricane Barry now ashore and weakening, drillers have begun restaffing offshore installations in the Gulf. About 69% of crude output remained shuttered, the U.S. government said Monday, down from 73% over the weekend. <\/p>\n<p>Chinese government data, meanwhile, showed the worlds second-largest economy slowed to a three-decade low in the second quarter amid a prolonged trade dispute. While prices held near $60 for much of the session, they crossed below that key psychological mark around noon. That triggered automatic selling orders that then accelerated the slide, said Bob Yawger, director of futures at Mizuho Securities USA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil tumbled below $60 a barrel as a tropical storm that shut almost three-quarters of U.S. Gulf of Mexico production moved inland while China fuelled concerns about demand growth. Futures closed 1.1% lower in New York, the biggest loss in almost two weeks. With Hurricane Barry now ashore and weakening, drillers have begun restaffing offshore installations in the Gulf. About 69% of crude output remained shuttered, the U.S. government said Monday, down from 73% over the weekend. Chinese government data, meanwhile, showed the worlds second-largest economy slowed to a three-decade low in the second quarter amid a prolonged trade dispute. [&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-282446","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282446","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=282446"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282446\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=282446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=282446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=282446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}