{"id":286923,"date":"2019-08-09T06:17:29","date_gmt":"2019-08-09T06:17:29","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=286923"},"modified":"2019-08-09T06:19:04","modified_gmt":"2019-08-09T06:19:04","slug":"oil-rises-due-to-firm-yuan-expectations-of-more-opec-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-due-to-firm-yuan-expectations-of-more-opec-cuts\/","title":{"rendered":"Oil rises due to firm yuan, expectations of more OPEC cuts"},"content":{"rendered":"<p>Oil jumped more than $1 a barrel on Thursday due to expectations that falling prices may lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation of US-China trade tensions. <\/p>\n<p>Brent crude had rebounded to $57.57, up $1.34 or 2.4 per cent, by 0844 GMT. US West Texas Intermediate (WTI) crude futures jumped $1.49, or 2.9 per cent, to $52.58 a barrel. <\/p>\n<p>China&#8217;s yuan strengthened against the dollar and its exports unexpectedly returned to growth in July on improved global demand despite US trade pressure. <\/p>\n<p>\u201cBrent and WTI were rebounding on the combination of a stronger-than-expected official fix in the yuan, alleviating currency war fears,\u201d said Harry Tchilinguirian, global oil strategist at BNP Paribas in London.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil jumped more than $1 a barrel on Thursday due to expectations that falling prices may lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation of US-China trade tensions. Brent crude had rebounded to $57.57, up $1.34 or 2.4 per cent, by 0844 GMT. US West Texas Intermediate (WTI) crude futures jumped $1.49, or 2.9 per cent, to $52.58 a barrel. China&#8217;s yuan strengthened against the dollar and its exports unexpectedly returned to growth in July on improved global demand despite US trade pressure. \u201cBrent and WTI were [&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-286923","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286923","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=286923"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286923\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=286923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=286923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=286923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}