{"id":372681,"date":"2020-09-09T08:57:20","date_gmt":"2020-09-09T03:27:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=372681"},"modified":"2020-09-09T09:50:11","modified_gmt":"2020-09-09T04:20:11","slug":"oil-glut-trade-on-brink-of-a-return-brent-crude-falls-below-40","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-glut-trade-on-brink-of-a-return-brent-crude-falls-below-40\/","title":{"rendered":"Oil glut trade on brink of a return; Brent crude falls below $40"},"content":{"rendered":"<p>An oil trade that only works when the market is glutted may be about to make a comeback. That\u2019s bad news for producers withholding near-record amounts of crude in a coordinated bid to help prop up prices. Crude futures in London, on Tuesday, fell below $40 a barrel for the first time since June 25. Brent crude was trading at $39.73 per barrel, down 5.43 per cent at 7.47 pm IST. <\/p>\n<p>The combination of a stalling Asian demand recovery, the end of the US summer driving season, and increased supply from the Opec+ alliance are signaling a bleak short-term outlook for oil prices. The global Brent crude benchmark is currently trading quite deeply in a bearish pattern known contango, where the most immediate prices are far below those for contracts for supply in later months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An oil trade that only works when the market is glutted may be about to make a comeback. That\u2019s bad news for producers withholding near-record amounts of crude in a coordinated bid to help prop up prices. Crude futures in London, on Tuesday, fell below $40 a barrel for the first time since June 25. Brent crude was trading at $39.73 per barrel, down 5.43 per cent at 7.47 pm IST. The combination of a stalling Asian demand recovery, the end of the US summer driving season, and increased supply from the Opec+ alliance are signaling a bleak short-term outlook [&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-372681","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\/372681","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=372681"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/372681\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=372681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=372681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=372681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}