{"id":336676,"date":"2020-02-10T11:30:01","date_gmt":"2020-02-10T06:00:01","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=336676"},"modified":"2020-02-10T13:49:12","modified_gmt":"2020-02-10T08:19:12","slug":"oil-prices-edge-down-as-traders-assess-chinas-oil-demand-await-opec-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-edge-down-as-traders-assess-chinas-oil-demand-await-opec-cuts\/","title":{"rendered":"Oil prices edge down as traders assess China&#8217;s oil demand, await OPEC+ cuts"},"content":{"rendered":"<p>Oil prices edged down on Monday but held recent ranges as traders assessed China&#8217;s oil demand following the coronavirus outbreak and awaited a decision by major producers to cut output further to balance markets.<\/p>\n<p>Oil is off more than 20 per cent from peaks struck in January after a spreading virus hit demand in the world&#8217;s largest oil importer and fuelled concerns of excess supplies.<\/p>\n<p>Brent crude slipped to $53.63 a barrel in early Asian trade, the lowest since January 2019, before recovering to $54.37 by 0517 GMT, down 10 cents.<\/p>\n<p>US West Texas Intermediate fell 8 cents to $50.24 a barrel after striking a low of $49.56.<\/p>\n<p>&#8220;The overall sentiment is still bearish but markets are oversold,&#8221; said Avtar Sandu, a senior commodities manager at Phillips Futures in Singapore. He added traders took profit after prices hit technical support levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged down on Monday but held recent ranges as traders assessed China&#8217;s oil demand following the coronavirus outbreak and awaited a decision by major producers to cut output further to balance markets. Oil is off more than 20 per cent from peaks struck in January after a spreading virus hit demand in the world&#8217;s largest oil importer and fuelled concerns of excess supplies. Brent crude slipped to $53.63 a barrel in early Asian trade, the lowest since January 2019, before recovering to $54.37 by 0517 GMT, down 10 cents. US West Texas Intermediate fell 8 cents to $50.24 [&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":[130,191,136],"tags":[],"class_list":["post-336676","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336676","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=336676"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336676\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=336676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=336676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=336676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}