{"id":379632,"date":"2020-10-21T08:47:05","date_gmt":"2020-10-21T03:17:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=379632"},"modified":"2020-10-21T09:31:53","modified_gmt":"2020-10-21T04:01:53","slug":"oil-prices-slip-on-rising-coronavirus-cases-oversupply-and-demand-concerns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-slip-on-rising-coronavirus-cases-oversupply-and-demand-concerns\/","title":{"rendered":"Oil prices slip on rising coronavirus cases, oversupply and demand concerns"},"content":{"rendered":"<p>Oil prices fell on Tuesday on worries that a resurgence of coronavirus cases globally is stifling a recovery in fuel demand while growing Libyan output adds to already plentiful supply. <\/p>\n<p>Brent crude futures were trading down 34 cents, or 0.8%, at $42.28 a barrel by 0903 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 15 cents, or 0.4%, to $40.68. <\/p>\n<p>COVID-19 cases topped 40 million on Monday, according to a Reuters tally, with a growing second wave in Europe and North America sparking various degrees of lockdown measures. <\/p>\n<p>A meeting on Monday of a ministerial panel of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, together known as OPEC+, pledged to support the oil market as concerns grow over soaring coronavirus cases.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Tuesday on worries that a resurgence of coronavirus cases globally is stifling a recovery in fuel demand while growing Libyan output adds to already plentiful supply. Brent crude futures were trading down 34 cents, or 0.8%, at $42.28 a barrel by 0903 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 15 cents, or 0.4%, to $40.68. COVID-19 cases topped 40 million on Monday, according to a Reuters tally, with a growing second wave in Europe and North America sparking various degrees of lockdown measures. A meeting on Monday of a ministerial panel of the Organization [&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-379632","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\/379632","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=379632"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/379632\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=379632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=379632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=379632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}