{"id":347768,"date":"2020-04-21T12:02:09","date_gmt":"2020-04-21T06:32:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=347768"},"modified":"2020-04-21T12:02:09","modified_gmt":"2020-04-21T06:32:09","slug":"covid-19-impact-oil-price-plunges-to-historic-low-at-37-63-as-demand-falls","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/covid-19-impact-oil-price-plunges-to-historic-low-at-37-63-as-demand-falls\/","title":{"rendered":"COVID-19 impact: Oil price plunges to historic low at -$37.63 as demand falls"},"content":{"rendered":"<p>NEW DELHI: A glut of oil supplies sent United States crude prices  spiralling to a 22-year-low with Western Texas Intermediate (WTI) crude plummeting to  below $12 a barrel, even as a futures trading scandal brought down one of the largest commodities traders \u2014 Singapore-based Hun Leong Trading Pte Ltd.Concerns over low demand and strains on fuel storage capacity saw WTI prices fall by nearly 40 per cent to $11.04 a barrel before correcting to $10.18 at 8:42 pm. However, US Brent traded at over $26.53 a barrel, according to the live ticker at dailyfx.com.<\/p>\n<p>Meanwhile one of the fallouts  of the continued fall in oil prices, which may have impacted commodity marketon Monday was news that Hin Leong hid about $800 million in losses on futures trading, according to news agencies. Its total accounting deficit stands at $3.34 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: A glut of oil supplies sent United States crude prices spiralling to a 22-year-low with Western Texas Intermediate (WTI) crude plummeting to below $12 a barrel, even as a futures trading scandal brought down one of the largest commodities traders \u2014 Singapore-based Hun Leong Trading Pte Ltd.Concerns over low demand and strains on fuel storage capacity saw WTI prices fall by nearly 40 per cent to $11.04 a barrel before correcting to $10.18 at 8:42 pm. However, US Brent traded at over $26.53 a barrel, according to the live ticker at dailyfx.com. Meanwhile one of the fallouts of [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,207,143],"tags":[],"class_list":["post-347768","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-new-indian-express","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347768","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=347768"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347768\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=347768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=347768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=347768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}