{"id":349009,"date":"2020-05-01T10:40:41","date_gmt":"2020-05-01T05:10:41","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=349009"},"modified":"2020-05-01T11:25:48","modified_gmt":"2020-05-01T05:55:48","slug":"oil-prices-surge-as-us-stockpiles-grow-less-than-feared-output-cuts-kick-in","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-surge-as-us-stockpiles-grow-less-than-feared-output-cuts-kick-in\/","title":{"rendered":"Oil prices surge as US stockpiles grow less than feared, output cuts kick in"},"content":{"rendered":"<p>Oil prices jumped on Friday, extending the previous session&#8217;s gains, buoyed by a lower-than-expected gain in US crude inventories and the start of output cuts in a bid to offset a slump in fuel demand triggered by the coronavirus pandemic.<\/p>\n<p>Brent crude for July delivery, which started trading on Friday as the new front-month contract, was up $1.10, or 4.2 per cent, at $27.58 a barrel by 0013 GMT. Brent gained 12 per cent on Thursday.<\/p>\n<p>US crude for June delivery climbed $1.37, or 7.3 per cent, to $20.21 a barrel, having gained 25 per cent in the previous session. <\/p>\n<p>\u201cThis is a second straight week of inventory and product demand figures suggesting a bottoming of the US market,\u201d said Stephen Innes, chief market strategist at AxiCorp.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices jumped on Friday, extending the previous session&#8217;s gains, buoyed by a lower-than-expected gain in US crude inventories and the start of output cuts in a bid to offset a slump in fuel demand triggered by the coronavirus pandemic. Brent crude for July delivery, which started trading on Friday as the new front-month contract, was up $1.10, or 4.2 per cent, at $27.58 a barrel by 0013 GMT. Brent gained 12 per cent on Thursday. US crude for June delivery climbed $1.37, or 7.3 per cent, to $20.21 a barrel, having gained 25 per cent in the previous session. [&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-349009","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/349009","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=349009"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/349009\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=349009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=349009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=349009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}