{"id":367051,"date":"2020-08-10T11:18:20","date_gmt":"2020-08-10T05:48:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=367051"},"modified":"2020-08-10T12:00:06","modified_gmt":"2020-08-10T06:30:06","slug":"oil-prices-rise-1-on-saudi-aramcos-upbeat-demand-view-iraq-output-cut","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-rise-1-on-saudi-aramcos-upbeat-demand-view-iraq-output-cut\/","title":{"rendered":"Oil prices rise 1% on Saudi Aramco&#8217;s upbeat demand view, Iraq output cut"},"content":{"rendered":"<p>Oil prices climbed on Monday, supported by Saudi optimism on Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the U.S. economic recovery capped gains. <\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures rose 50 cents, or 1.2%, to $41.72 a barrel at 0301 GMT, while Brent crude futures were up 40 cents, or 0.9%, at $44.80 a barrel. <\/p>\n<p>Both benchmark contracts fell on Friday, hurt by demand concerns, but Brent still ended the week up 2.5%, with WTI up 2.4%. <\/p>\n<p>&#8220;Comments from the weekend from Aramco are the driver at the moment,&#8221; said Michael McCarthy, market strategist at CMC Markets and Stockbroking. <\/p>\n<p>Saudi Arabian Aramco&#8217;s Chief Executive Amin Nasser said on Sunday he sees oil demand rebounding in Asia as economies gradually open up after the easing of coronavirus lockdowns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices climbed on Monday, supported by Saudi optimism on Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the U.S. economic recovery capped gains. U.S. West Texas Intermediate (WTI) crude futures rose 50 cents, or 1.2%, to $41.72 a barrel at 0301 GMT, while Brent crude futures were up 40 cents, or 0.9%, at $44.80 a barrel. Both benchmark contracts fell on Friday, hurt by demand concerns, but Brent still ended the week up 2.5%, with WTI up 2.4%. &#8220;Comments from the weekend from Aramco are the driver at the [&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-367051","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\/367051","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=367051"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367051\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=367051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=367051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=367051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}