{"id":383824,"date":"2020-11-12T09:19:05","date_gmt":"2020-11-12T03:49:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=383824"},"modified":"2020-11-12T12:03:44","modified_gmt":"2020-11-12T06:33:44","slug":"oil-rises-on-declining-us-crude-stocks-hopes-for-covid-19-vaccine","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-on-declining-us-crude-stocks-hopes-for-covid-19-vaccine\/","title":{"rendered":"Oil rises on declining US crude stocks, hopes for Covid-19 vaccine"},"content":{"rendered":"<p>Oil prices climbed over 1% on Wednesday, after an industry report showed US crude inventories have fallen more than expected, while hopes of an effective Covid-19 vaccine continued to bolster sentiment. <\/p>\n<p>Brent crude futures were up 48 cents, or 1.1% to $44.09 a barrel at 0445 GMT, while US West Texas Intermediate (WTI) crude futures also rose 48 cents, or 1.2%, to $41.84 a barrel. Both benchmarks gained nearly 3% on Tuesday.<\/p>\n<p>Crude stockpiles fell by 5.1 million barrels last week to about 482 million barrels, industry group data showed on Tuesday, compared with analysts&#8217; expectations in a Reuters poll for a reduction of 913,000 barrels.<\/p>\n<p>&#8220;Defying analysts&#8217; expectations again, the American Petroleum Institute (API) reported on Tuesday a significant &#8216;draw&#8217; in crude oil inventories,&#8221; said Stephen Innes, chief market strategist at AXI.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices climbed over 1% on Wednesday, after an industry report showed US crude inventories have fallen more than expected, while hopes of an effective Covid-19 vaccine continued to bolster sentiment. Brent crude futures were up 48 cents, or 1.1% to $44.09 a barrel at 0445 GMT, while US West Texas Intermediate (WTI) crude futures also rose 48 cents, or 1.2%, to $41.84 a barrel. Both benchmarks gained nearly 3% on Tuesday. Crude stockpiles fell by 5.1 million barrels last week to about 482 million barrels, industry group data showed on Tuesday, compared with analysts&#8217; expectations in a Reuters poll [&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-383824","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\/383824","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=383824"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/383824\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=383824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=383824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=383824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}