{"id":344839,"date":"2020-04-02T10:38:17","date_gmt":"2020-04-02T05:08:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=344839"},"modified":"2020-04-02T10:49:55","modified_gmt":"2020-04-02T05:19:55","slug":"oil-skids-as-oversupply-fears-pile-up-with-us-inventories-growth","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-skids-as-oversupply-fears-pile-up-with-us-inventories-growth\/","title":{"rendered":"Oil skids as oversupply fears pile up with US inventories growth"},"content":{"rendered":"<p>Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in US inventories and a widening rift within OPEC heightened oversupply fears.<\/p>\n<p>Oil prices are near their lowest since 2002 amid the global coronavirus crisis that has brought a worldwide economic slowdown and slashed oil demand. Crude futures ended the quarter down nearly 70 per cent after record losses in March.<\/p>\n<p>As of 0643 GMT, Brent crude was down by $1.02, or 3.9 per cent, at $25.33 a barrel. US West Texas Intermediate crude was down 35 cents, or 1.7 per cent, at $20.13 a barrel, after giving up an earlier gain which analysts said was driven by position building at the start of a the new quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in US inventories and a widening rift within OPEC heightened oversupply fears. Oil prices are near their lowest since 2002 amid the global coronavirus crisis that has brought a worldwide economic slowdown and slashed oil demand. Crude futures ended the quarter down nearly 70 per cent after record losses in March. As of 0643 GMT, Brent crude was down by $1.02, or 3.9 per cent, at $25.33 a barrel. US West Texas Intermediate crude was down 35 cents, or 1.7 per [&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-344839","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/344839","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=344839"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/344839\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=344839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=344839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=344839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}