{"id":367104,"date":"2020-08-10T12:13:02","date_gmt":"2020-08-10T06:43:02","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=367104"},"modified":"2020-08-10T12:33:38","modified_gmt":"2020-08-10T07:03:38","slug":"oil-trades-below-42-with-tension-between-us-and-china-flaring","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-trades-below-42-with-tension-between-us-and-china-flaring\/","title":{"rendered":"Oil Trades below $42 with tension between US and China flaring"},"content":{"rendered":"<p>NEW YORK : Oil in New York fell as US President Donald Trump\u2019s latest attack on Chinese tech companies stoked tensions between the two countries, weighing on risky assets.<\/p>\n<p>Futures traded below $42 a barrel as Trump signed executive orders prohibiting US residents from doing business with WeChat, TikTok or the apps\u2019 Chinese owners. The move pushed the dollar up and sent equity markets lower. Nevertheless, oil is still set for a weekly gain after American crude inventories posted their biggest back-to-back weekly decline in a year.<\/p>\n<p>Crude rallied to a five-month high earlier this week, buoyed by a weaker dollar and the drop in US stockpiles. But a sustained recovery in oil consumption is looking shaky, with crude imports into China shrinking in July, and Saudi Arabia this week cutting prices to Asia less-than-expected. Increased tensions between America and China only add to the market anxiety.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK : Oil in New York fell as US President Donald Trump\u2019s latest attack on Chinese tech companies stoked tensions between the two countries, weighing on risky assets. Futures traded below $42 a barrel as Trump signed executive orders prohibiting US residents from doing business with WeChat, TikTok or the apps\u2019 Chinese owners. The move pushed the dollar up and sent equity markets lower. Nevertheless, oil is still set for a weekly gain after American crude inventories posted their biggest back-to-back weekly decline in a year. Crude rallied to a five-month high earlier this week, buoyed by a weaker [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-367104","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367104","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=367104"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367104\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=367104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=367104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=367104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}