{"id":352439,"date":"2020-05-21T11:42:30","date_gmt":"2020-05-21T06:12:30","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=352439"},"modified":"2020-05-21T11:42:30","modified_gmt":"2020-05-21T06:12:30","slug":"crude-oil-prices-jump-4-on-lower-us-stocks-firmer-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-prices-jump-4-on-lower-us-stocks-firmer-demand\/","title":{"rendered":"Crude oil prices jump 4% on lower US stocks, firmer demand"},"content":{"rendered":"<p>NEW YORK: Oil prices climbed more than 4 per cent on Wednesday on signs of improving demand and a drawdown in US crude inventories, but gains were capped by worries over the economic fallout from the Covid-19 pandemic and weak refining margins.<\/p>\n<p>Brent crude futures were up $1.38, or 3.98 per cent, at $36.03 per barrel at 10:54 a.m. ET (1454 GMT) while US West Texas Intermediate (WTI) July crude futures were up $1.38, or 4.32 per cent, at $33.34 a barrel. Both benchmarks rose more than 5 per cent during the session.<\/p>\n<p>The WTI June contract expired on Tuesday at $32.50 a barrel, up 2.1 per cent, avoiding the chaos of last month&#8217;s May expiry, when prices sank well below zero, as storage across the US filled rapidly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK: Oil prices climbed more than 4 per cent on Wednesday on signs of improving demand and a drawdown in US crude inventories, but gains were capped by worries over the economic fallout from the Covid-19 pandemic and weak refining margins. Brent crude futures were up $1.38, or 3.98 per cent, at $36.03 per barrel at 10:54 a.m. ET (1454 GMT) while US West Texas Intermediate (WTI) July crude futures were up $1.38, or 4.32 per cent, at $33.34 a barrel. Both benchmarks rose more than 5 per cent during the session. The WTI June contract expired on Tuesday [&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":[130,191,136],"tags":[],"class_list":["post-352439","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/352439","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=352439"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/352439\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=352439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=352439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=352439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}