{"id":352486,"date":"2020-05-21T12:00:55","date_gmt":"2020-05-21T06:30:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=352486"},"modified":"2020-05-21T12:29:08","modified_gmt":"2020-05-21T06:59:08","slug":"oil-prices-climb-as-us-stock-drawdown-eases-supply-glut-fears-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-climb-as-us-stock-drawdown-eases-supply-glut-fears-2\/","title":{"rendered":"Oil prices climb as US stock drawdown eases supply glut fears"},"content":{"rendered":"<p>Oil prices advanced on Thursday as a drawdown of US crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains.<\/p>\n<p>Brent crude futures for July delivery were trading up 33 cents, or 0.9%, at $36.08 per barrel at 0344 GMT, rising for a second day.<\/p>\n<p>US West Texas Intermediate (WTI) crude futures for July were up 20 cents, or 0.6%, at $33.69 a barrel, extending its gains into a sixth straight session. <\/p>\n<p>US crude inventories fell by 5 million barrels last week, against expectations in a Reuters poll for a 1.2 million-barrel rise, Energy Information Administration (EIA) data showed, while stocks at the Cushing, Oklahoma, delivery hub dropped by 5.6 million barrels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices advanced on Thursday as a drawdown of US crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains. Brent crude futures for July delivery were trading up 33 cents, or 0.9%, at $36.08 per barrel at 0344 GMT, rising for a second day. US West Texas Intermediate (WTI) crude futures for July were up 20 cents, or 0.6%, at $33.69 a barrel, extending its gains into a sixth straight session. US crude inventories fell by 5 million barrels last [&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-352486","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/352486","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=352486"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/352486\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=352486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=352486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=352486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}