{"id":342236,"date":"2020-03-17T11:47:41","date_gmt":"2020-03-17T06:17:41","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=342236"},"modified":"2020-03-17T12:35:16","modified_gmt":"2020-03-17T07:05:16","slug":"oil-prices-in-a-tailspin-brent-slips-below-30-per-barrel","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-in-a-tailspin-brent-slips-below-30-per-barrel\/","title":{"rendered":"Oil prices in a tailspin, Brent slips below $30 per barrel"},"content":{"rendered":"<p>Growing concerns over the Covid-19 outbreak roiled global crude oil markets on Monday, with Brent prices crashing by as much as 10%.<\/p>\n<p>The international benchmark hit a low of $28.03 per barrel, far below the highs of $147 per barrel touched in July 2008. The West Texas intermediate was trading at $28.53 per barrel.<\/p>\n<p>The sharp fall in crude prices has placed major consumers such as India at an advantage as it will help manage inflationary and fiscal pressures. India is the world\u2019s third-largest crude oil buyer and the fourth-largest liquefied natural gas importer.<\/p>\n<p>Brent crude prices saw their biggest single-day fall on 9 March\u2014the sharpest decline since the 1991 Gulf War.<\/p>\n<p>With global oil demand plunging due to the novel coronavirus contagion, prices are in free fall. This has been worsened by the world\u2019s top producer, Saudi Aramco, planning to boost oil supplies to 12.3 million barrels per day in April, and Russia lifting all production curbs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Growing concerns over the Covid-19 outbreak roiled global crude oil markets on Monday, with Brent prices crashing by as much as 10%. The international benchmark hit a low of $28.03 per barrel, far below the highs of $147 per barrel touched in July 2008. The West Texas intermediate was trading at $28.53 per barrel. The sharp fall in crude prices has placed major consumers such as India at an advantage as it will help manage inflationary and fiscal pressures. India is the world\u2019s third-largest crude oil buyer and the fourth-largest liquefied natural gas importer. Brent crude prices saw their biggest [&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":[139,130,187],"tags":[],"class_list":["post-342236","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342236","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=342236"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342236\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=342236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=342236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=342236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}