{"id":383360,"date":"2020-11-10T08:42:25","date_gmt":"2020-11-10T03:12:25","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=383360"},"modified":"2020-11-10T09:29:13","modified_gmt":"2020-11-10T03:59:13","slug":"oil-prices-drop-as-near-term-demand-concerns-overshadow-vaccine-hopes","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drop-as-near-term-demand-concerns-overshadow-vaccine-hopes\/","title":{"rendered":"Oil prices drop as near-term demand concerns overshadow vaccine hopes"},"content":{"rendered":"<p>MELBOURNE (Reuters) &#8211; U.S. oil prices fell in early trade on Tuesday as concerns over demand in the near term in coronavirus-hit economies in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine. <\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures dropped 81 cents, or 2%, to $39.48 a barrel at 0029 GMT, having jumped 8% on Monday, its biggest daily gain in more than five months, after drugmakers Pfizer and BioNTech  said an experimental COVID-19 treatment was more than 90% effective based on initial trial results. <\/p>\n<p>&#8220;A viable vaccine is unequivocally game-changing for oil &#8211; a market where half of demand comes from moving people and things around,&#8221; JP Morgan said in a note<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE (Reuters) &#8211; U.S. oil prices fell in early trade on Tuesday as concerns over demand in the near term in coronavirus-hit economies in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine. U.S. West Texas Intermediate (WTI) crude futures dropped 81 cents, or 2%, to $39.48 a barrel at 0029 GMT, having jumped 8% on Monday, its biggest daily gain in more than five months, after drugmakers Pfizer and BioNTech said an experimental COVID-19 treatment was more than 90% effective based on initial trial results. &#8220;A viable vaccine [&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-383360","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\/383360","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=383360"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/383360\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=383360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=383360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=383360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}