{"id":351974,"date":"2020-05-19T10:41:17","date_gmt":"2020-05-19T05:11:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=351974"},"modified":"2020-05-19T10:41:17","modified_gmt":"2020-05-19T05:11:17","slug":"oil-keeps-rising-with-vaccine-test-adding-to-demand-optimism","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-keeps-rising-with-vaccine-test-adding-to-demand-optimism\/","title":{"rendered":"Oil keeps rising with vaccine test adding to demand optimism"},"content":{"rendered":"<p>Oil\u2019s rally extended to a fourth day as a combination of recovering demand, production cuts and promising test results for a coronavirus vaccine brightened the outlook for energy prices.<\/p>\n<p>Futures in New York rose around 4% to past $33 a barrel after closing at the highest level in almost 10 weeks on Monday. The June contract expires Tuesday but a repeat of last month\u2019s plunge below zero is highly unlikely. There were far higher trading volumes in the July contract, which advanced around 3%.<\/p>\n<p>Crude got an extra boost on Monday after American biotechnology company Moderna Inc. said its vaccine showed signs it can create an immune-system response to the virus, helping to spur broad financial market gains. Meanwhile, West Texas Intermediate\u2019s front-month contract settled above the July contract for the first time since January, moving into a market structure known as backwardation that signals concerns over storage capacity have eased.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil\u2019s rally extended to a fourth day as a combination of recovering demand, production cuts and promising test results for a coronavirus vaccine brightened the outlook for energy prices. Futures in New York rose around 4% to past $33 a barrel after closing at the highest level in almost 10 weeks on Monday. The June contract expires Tuesday but a repeat of last month\u2019s plunge below zero is highly unlikely. There were far higher trading volumes in the July contract, which advanced around 3%. Crude got an extra boost on Monday after American biotechnology company Moderna Inc. said its vaccine [&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-351974","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\/351974","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=351974"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351974\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=351974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=351974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=351974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}