{"id":372363,"date":"2020-09-08T08:52:32","date_gmt":"2020-09-08T03:22:32","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=372363"},"modified":"2020-09-08T09:28:56","modified_gmt":"2020-09-08T03:58:56","slug":"oil-price-falls-after-saudi-cuts-rates-amid-demand-uncertainty","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-price-falls-after-saudi-cuts-rates-amid-demand-uncertainty\/","title":{"rendered":"Oil price falls after Saudi cuts rates amid demand uncertainty"},"content":{"rendered":"<p>Oil prices fell on Monday as Saudi Arabia made its deepest monthly price cuts to supply for Asia in five months and uncertainty over Chinese demand clouds the market&#8217;s recovery. Brent crude was trading at $42.00 a barrel, down 66 cents, or 1.5 per cent, by 12:08 GMT, after earlier sliding to $41.51, its lowest since July 30. <\/p>\n<p>West Texas Intermediate US crude skidded 59 cents, or 1.5 per cent, to $39.18 per barrel after hitting $38.55, its lowest since July 10. <\/p>\n<p>&#8220;The mood has turned somewhat pessimistic in the second half of last week and the immediate risk is skewed to the downside,&#8221; said oil broker PVM&#8217;s Tamas Varga. <\/p>\n<p>The world&#8217;s top oil exporter, Saudi Arabia, cut the October official selling price for Arab Light crude it sells to Asia by the most since May.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Monday as Saudi Arabia made its deepest monthly price cuts to supply for Asia in five months and uncertainty over Chinese demand clouds the market&#8217;s recovery. Brent crude was trading at $42.00 a barrel, down 66 cents, or 1.5 per cent, by 12:08 GMT, after earlier sliding to $41.51, its lowest since July 30. West Texas Intermediate US crude skidded 59 cents, or 1.5 per cent, to $39.18 per barrel after hitting $38.55, its lowest since July 10. &#8220;The mood has turned somewhat pessimistic in the second half of last week and the immediate risk is [&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-372363","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\/372363","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=372363"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/372363\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=372363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=372363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=372363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}