{"id":374544,"date":"2020-09-22T08:42:33","date_gmt":"2020-09-22T03:12:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=374544"},"modified":"2020-09-22T09:21:04","modified_gmt":"2020-09-22T03:51:04","slug":"oil-falls-5-as-economic-outlook-dims-with-rising-coronavirus-cases","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-falls-5-as-economic-outlook-dims-with-rising-coronavirus-cases\/","title":{"rendered":"Oil falls 5% as economic outlook dims with rising coronavirus cases"},"content":{"rendered":"<p>Oil prices plunged about 5 per cent on Monday, weakening as rising coronavirus cases stoked worries about global demand, and a potential return of Libyan production bolstered oversupply fears. <\/p>\n<p>Crude oil followed other equities and commodities markets in turning risk-averse on Monday as rising Covid-19 infection rates in Europe and other countries prompted renewed lockdown measures, casting doubt over economic recovery. <\/p>\n<p>&#8220;We&#8217;re seeing more depressing news on jet fuel demand,&#8221; said Gary Cunningham, director of market research at Tradition Energy in Stamford, Connecticut. &#8220;We&#8217;re looking for a much softer market. The economic picture doesn&#8217;t look as rosy as it did before.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices plunged about 5 per cent on Monday, weakening as rising coronavirus cases stoked worries about global demand, and a potential return of Libyan production bolstered oversupply fears. Crude oil followed other equities and commodities markets in turning risk-averse on Monday as rising Covid-19 infection rates in Europe and other countries prompted renewed lockdown measures, casting doubt over economic recovery. &#8220;We&#8217;re seeing more depressing news on jet fuel demand,&#8221; said Gary Cunningham, director of market research at Tradition Energy in Stamford, Connecticut. &#8220;We&#8217;re looking for a much softer market. The economic picture doesn&#8217;t look as rosy as it did [&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-374544","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\/374544","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=374544"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/374544\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=374544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=374544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=374544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}