Oil futures dipped on Thursday as a surge in coronavirus cases and tighter economic restrictions around the globe weighed on fuel demand expectations, also dragging down equities globally.<\/p>\n
Brent crude futures were down 27 cents to $44.07 a barrel by 0911 GMT. U.S. West Texas Intermediate crude slipped 43 cents to $41.39 a barrel. A rising dollar made oil more expensive for holders of other currencies.<\/p>\n
But Brent’s six-month contango, a market structure implying current oversupply, was at its shallowest in over four months on Thursday, suggesting concerns over a glut are easing somewhat. <\/p>\n
U.S. crude inventories rose 768,000 barrels last week, less than the 1.7 million barrels analysts expected in a Reuters poll, government data showed. Distillate stockpiles, which include diesel and heating oil, fell by 5.2 million barrels, far exceeding expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil futures dipped on Thursday as a surge in coronavirus cases and tighter economic restrictions around the globe weighed on fuel demand expectations, also dragging down equities globally. Brent crude futures were down 27 cents to $44.07 a barrel by 0911 GMT. U.S. West Texas Intermediate crude slipped 43 cents to $41.39 a barrel. A rising dollar made oil more expensive for holders of other currencies. But Brent’s six-month contango, a market structure implying current oversupply, was at its shallowest in over four months on Thursday, suggesting concerns over a glut are easing somewhat. U.S. crude inventories rose 768,000 barrels […]<\/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-385135","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\/385135","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=385135"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/385135\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=385135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=385135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=385135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}