{"id":366095,"date":"2020-08-04T10:21:30","date_gmt":"2020-08-04T04:51:30","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=366095"},"modified":"2020-08-04T10:46:58","modified_gmt":"2020-08-04T05:16:58","slug":"oil-prices-fall-on-fears-about-economic-fallout-from-rising-covid-19-cases","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-fall-on-fears-about-economic-fallout-from-rising-covid-19-cases\/","title":{"rendered":"Oil prices fall on fears about economic fallout from rising Covid-19 cases"},"content":{"rendered":"<p>Oil prices fell on Monday on fears about the economic fallout from rising Covid-19 cases around the globe and on oversupply worries as OPEC and its allies are set to wind back output cuts in August. Brent crude slid 40 cents, or 0.9%, to $43.12 a barrel by 0845 GMT, and US West Texas Intermediate (WTI) crude was down 46 cents, or 1.1%, at $39.81. <\/p>\n<p>In the last month, Brent has been trading in a range between $41 and almost $45. <\/p>\n<p>&#8220;Oil continues to trade in an incredibly rangebound manner,&#8221; said Warren Patterson, ING&#8217;s head of commodities strategy. <\/p>\n<p>&#8220;Speculators appear to be getting more nervous about the demand recovery, with the path much more gradual than market expectations coming into the second half of the year,&#8221; he added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Monday on fears about the economic fallout from rising Covid-19 cases around the globe and on oversupply worries as OPEC and its allies are set to wind back output cuts in August. Brent crude slid 40 cents, or 0.9%, to $43.12 a barrel by 0845 GMT, and US West Texas Intermediate (WTI) crude was down 46 cents, or 1.1%, at $39.81. In the last month, Brent has been trading in a range between $41 and almost $45. &#8220;Oil continues to trade in an incredibly rangebound manner,&#8221; said Warren Patterson, ING&#8217;s head of commodities strategy. &#8220;Speculators appear [&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":[135,130,169],"tags":[],"class_list":["post-366095","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/366095","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=366095"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/366095\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=366095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=366095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=366095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}