{"id":383395,"date":"2020-11-10T09:11:51","date_gmt":"2020-11-10T03:41:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=383395"},"modified":"2020-11-10T09:51:40","modified_gmt":"2020-11-10T04:21:40","slug":"oil-prices-drop-as-near-term-demand-concerns-overshadow-covid-19-vaccine-hopes","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drop-as-near-term-demand-concerns-overshadow-covid-19-vaccine-hopes\/","title":{"rendered":"Oil prices drop as near-term demand concerns overshadow Covid-19 vaccine hopes"},"content":{"rendered":"<p>US 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>US West Texas Intermediate (WTI) crude futures dropped 81 cents, or two per cent, to $39.48 a barrel at 0029 GMT, having jumped eight per cent 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 per cent effective based on initial trial results. <\/p>\n<p>&#8220;A viable vaccine is unequivocally game-changing for oil \u2014 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>US 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. US West Texas Intermediate (WTI) crude futures dropped 81 cents, or two per cent, to $39.48 a barrel at 0029 GMT, having jumped eight per cent 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 per cent effective based on initial trial results. [&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-383395","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\/383395","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=383395"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/383395\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=383395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=383395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=383395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}