{"id":385782,"date":"2020-11-24T08:45:31","date_gmt":"2020-11-24T03:15:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=385782"},"modified":"2020-11-24T09:40:46","modified_gmt":"2020-11-24T04:10:46","slug":"oil-prices-rise-as-traders-anticipate-vaccine-trials-may-spur-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-rise-as-traders-anticipate-vaccine-trials-may-spur-demand\/","title":{"rendered":"Oil prices rise as traders anticipate vaccine trials may spur demand"},"content":{"rendered":"<p>LONDON (Reuters) &#8211; Oil prices rose on Monday, extending last week&#8217;s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand. <\/p>\n<p>Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, would extend a deal to restrain output. <\/p>\n<p>Brent crude rose 58 cents to $45.54 a barrel by 1435 GMT while U.S. West Texas Intermediate crude gained 35 cents to $42.77 a barrel. Both benchmarks jumped 5% last week. <\/p>\n<p>The contango structure in the market, whereby the prices of front-month delivery contracts are lower than those for delivery six months later, narrowed to as little as 31 U.S. cents, its smallest since mid June, reflecting traders&#8217; views a sustained glut is receding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; Oil prices rose on Monday, extending last week&#8217;s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand. Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, would extend a deal to restrain output. Brent crude rose 58 cents to $45.54 a barrel by 1435 GMT while U.S. West Texas Intermediate crude gained 35 cents to $42.77 a barrel. Both benchmarks jumped 5% last week. The contango structure in the market, whereby the prices of front-month delivery contracts are [&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-385782","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\/385782","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=385782"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/385782\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=385782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=385782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=385782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}