{"id":354427,"date":"2020-05-30T10:40:07","date_gmt":"2020-05-30T05:10:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=354427"},"modified":"2020-05-30T11:06:10","modified_gmt":"2020-05-30T05:36:10","slug":"oil-falls-but-set-to-post-biggest-monthly-rise-in-years-on-output-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-falls-but-set-to-post-biggest-monthly-rise-in-years-on-output-cuts\/","title":{"rendered":"Oil falls but set to post biggest monthly rise in years on output cuts"},"content":{"rendered":"<p>Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after US inventory data showed lacklustre fuel demand in the world&#8217;s largest oil consumer, while worsening US-China tensions weighed on global financial markets.<\/p>\n<p>Brent crude slipped 43 cents, or 1.2 per cent, to $34.86 a barrel by 0643 GMT and US West Texas Intermediate (WTI) crude was at $33.14 a barrel, down 57 cents, or 1.7 per cent.<\/p>\n<p>\u201cThe rally needs a breather. It has been four weeks of gains and the market needs to buy time for downstream prices to catch up,\u201d OCBC economist Howie Lee said.<\/p>\n<p>\u201cBeyond the short term, the bullish momentum still looks rather intact.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after US inventory data showed lacklustre fuel demand in the world&#8217;s largest oil consumer, while worsening US-China tensions weighed on global financial markets. Brent crude slipped 43 cents, or 1.2 per cent, to $34.86 a barrel by 0643 GMT and US West Texas Intermediate (WTI) crude was at $33.14 a barrel, down 57 cents, or 1.7 per cent. \u201cThe rally needs a breather. It has been four weeks of gains and the market needs to buy time for downstream prices to catch up,\u201d OCBC [&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-354427","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354427","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=354427"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354427\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=354427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=354427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=354427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}