{"id":347838,"date":"2020-04-21T12:42:36","date_gmt":"2020-04-21T07:12:36","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=347838"},"modified":"2020-04-21T12:42:36","modified_gmt":"2020-04-21T07:12:36","slug":"wti-turns-negative-world-stares-at-recession","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/wti-turns-negative-world-stares-at-recession\/","title":{"rendered":"WTI turns negative, world stares at recession"},"content":{"rendered":"<p>NEW DELHI : With US crude oil prices turning negative, the world is looking at a full-blown recession.<\/p>\n<p>In a perfect storm, West Texas Intermediate (WTI) fell to as low as minus $37.63 per barrel on Monday due to a combination of factors such as demand erosion due to the coronavirus pandemic, the US running out of storage space, and a technicality wherein May futures contracts are set to expire today.<\/p>\n<p>After WTI prices turned negative, in a first, it was trading at $1.74 a barrel on Tuesday. While WTI&#8217; futures contract prices for June delivery was also down, it was trading at around $20 per barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI : With US crude oil prices turning negative, the world is looking at a full-blown recession. In a perfect storm, West Texas Intermediate (WTI) fell to as low as minus $37.63 per barrel on Monday due to a combination of factors such as demand erosion due to the coronavirus pandemic, the US running out of storage space, and a technicality wherein May futures contracts are set to expire today. After WTI prices turned negative, in a first, it was trading at $1.74 a barrel on Tuesday. While WTI&#8217; futures contract prices for June delivery was also down, it [&hellip;]<\/p>\n","protected":false},"author":44,"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-347838","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\/347838","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=347838"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347838\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=347838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=347838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=347838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}