{"id":376702,"date":"2020-10-05T09:15:26","date_gmt":"2020-10-05T03:45:26","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376702"},"modified":"2020-10-05T11:11:32","modified_gmt":"2020-10-05T05:41:32","slug":"oil-drops-for-second-day-as-worsening-pandemic-threatens-to-cause-drop-in-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-drops-for-second-day-as-worsening-pandemic-threatens-to-cause-drop-in-demand\/","title":{"rendered":"Oil drops for second day as worsening pandemic threatens to cause drop in demand"},"content":{"rendered":"<p>Oil prices fell nearly 1% on Friday, extending losses into a second day as rising production of crude comes amid a worsening Covid-19 pandemic which threatens to bring more restrictions on movement and consumption that will likely hit demand for fuel. <\/p>\n<p>Brent crude was down 36 cents, or 0.9%, at $40.57 a barrel at 0055 GMT, after falling more than 3% on Thursday. US oil was also 36 cents, or 0.9%, lower at $38.36, having fallen nearly 4% in the previous session.<\/p>\n<p>US oil is heading for a drop of nearly 5% this week, while Brent is on track to fall more than 3%, in a second consecutive week of decline for both contracts.<\/p>\n<p>&#8220;The fundamentals of oil are not encouraging &#8230; as supply rises and demand prospects look bleak,&#8221; ANZ Research said in a client note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell nearly 1% on Friday, extending losses into a second day as rising production of crude comes amid a worsening Covid-19 pandemic which threatens to bring more restrictions on movement and consumption that will likely hit demand for fuel. Brent crude was down 36 cents, or 0.9%, at $40.57 a barrel at 0055 GMT, after falling more than 3% on Thursday. US oil was also 36 cents, or 0.9%, lower at $38.36, having fallen nearly 4% in the previous session. US oil is heading for a drop of nearly 5% this week, while Brent is on track to [&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":[146,130,177],"tags":[],"class_list":["post-376702","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376702","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=376702"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376702\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}