{"id":369670,"date":"2020-08-25T08:42:59","date_gmt":"2020-08-25T03:12:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=369670"},"modified":"2020-08-25T09:02:00","modified_gmt":"2020-08-25T03:32:00","slug":"oil-prices-up-on-storm-hit-us-output-and-covid-19-treatment-hopes","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-up-on-storm-hit-us-output-and-covid-19-treatment-hopes\/","title":{"rendered":"Oil prices up on storm-hit US output and Covid-19 treatment hopes"},"content":{"rendered":"<p>Oil prices strengthened on Monday as storms threatening the Gulf of Mexico shut more than half of the region&#8217;s oil production and on expectations of progress in the development of a Covid-19 treatment. <\/p>\n<p>Brent crude was up 53 cents, or 1.2%, at $44.88 a barrel by 11:22 a.m. EDT (1522 GMT). US West Texas Intermediate crude rose 28 cents, or 0.7%, to $42.62. <\/p>\n<p>&#8220;Prices are taking their cues from Mother Nature this morning as two storms bear down on the Gulf of Mexico. Half of the region&#8217;s production has been shut down, though gains will be limited by the threat of a second prolonged Covid wave,&#8221; said Stephen Brennock of oil broker PVM.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices strengthened on Monday as storms threatening the Gulf of Mexico shut more than half of the region&#8217;s oil production and on expectations of progress in the development of a Covid-19 treatment. Brent crude was up 53 cents, or 1.2%, at $44.88 a barrel by 11:22 a.m. EDT (1522 GMT). US West Texas Intermediate crude rose 28 cents, or 0.7%, to $42.62. &#8220;Prices are taking their cues from Mother Nature this morning as two storms bear down on the Gulf of Mexico. Half of the region&#8217;s production has been shut down, though gains will be limited by the threat [&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-369670","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\/369670","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=369670"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/369670\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=369670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=369670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=369670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}