{"id":377903,"date":"2020-10-12T09:29:54","date_gmt":"2020-10-12T03:59:54","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=377903"},"modified":"2020-10-12T16:49:29","modified_gmt":"2020-10-12T11:19:29","slug":"oil-prices-head-for-11-weekly-jump-on-north-america-norway-outages","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-head-for-11-weekly-jump-on-north-america-norway-outages\/","title":{"rendered":"Oil prices head for 11% weekly jump on North America, Norway outages"},"content":{"rendered":"<p>Oil prices inched up on Friday, setting both benchmark contracts on track for their biggest weekly gains since early June, on the back of supply outages caused by a storm in the Gulf of Mexico and a strike of offshore workers in Norway. <\/p>\n<p>Brent was up 16 cents at $43.50 a barrel by 0748 GMT. US West Texas Intermediate (WTI) crude rose 14 cents to $41.33.<\/p>\n<p>Both contracts are on track for gains of around 11% this week, the first weekly rise in three weeks.<\/p>\n<p>Brent&#8217;s six-month contango, a market structure where the front-month Brent futures are trading at a discount to later contracts implying current oversupply, has shrunk to around $1.90 a barrel from $3.24 less than a month ago.<br \/>\nNorwegian oil company and labour officials said they would meet with a state-appointed mediator on Friday in an attempt to bring an end to a strike.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices inched up on Friday, setting both benchmark contracts on track for their biggest weekly gains since early June, on the back of supply outages caused by a storm in the Gulf of Mexico and a strike of offshore workers in Norway. Brent was up 16 cents at $43.50 a barrel by 0748 GMT. US West Texas Intermediate (WTI) crude rose 14 cents to $41.33. Both contracts are on track for gains of around 11% this week, the first weekly rise in three weeks. Brent&#8217;s six-month contango, a market structure where the front-month Brent futures are trading at a [&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-377903","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\/377903","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=377903"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/377903\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=377903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=377903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=377903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}