{"id":386214,"date":"2020-11-26T09:19:17","date_gmt":"2020-11-26T03:49:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=386214"},"modified":"2020-11-26T11:27:05","modified_gmt":"2020-11-26T05:57:05","slug":"oil-prices-rally-further-on-vaccine-optimism-despite-inventory-rise","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-rally-further-on-vaccine-optimism-despite-inventory-rise\/","title":{"rendered":"Oil prices rally further on vaccine optimism despite inventory rise"},"content":{"rendered":"<p>Oil rose for a fourth straight day on Wednesday, shrugging off an industry report showing a higher-than-unexpected rise in US crude stockpiles and extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand. <\/p>\n<p>Brent crude was up 54 cents, or 1.1%, at $48.40 a barrel by 0247 GMT, having risen almost 4% in the previous session. West Texas Intermediate crude gained 47 cents, or 1.1%, to $45.38 a barrel, after rising more than 4% on Tuesday.<\/p>\n<p>Both contracts are at their highest since early March and have rallied nearly 10% in the last four days.<\/p>\n<p>&#8220;The broader market is in de-risk mode as we now have three effective vaccines that can combat the virus,&#8221; said Kevin Solomon, energy economic analyst at StoneX.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil rose for a fourth straight day on Wednesday, shrugging off an industry report showing a higher-than-unexpected rise in US crude stockpiles and extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand. Brent crude was up 54 cents, or 1.1%, at $48.40 a barrel by 0247 GMT, having risen almost 4% in the previous session. West Texas Intermediate crude gained 47 cents, or 1.1%, to $45.38 a barrel, after rising more than 4% on Tuesday. Both contracts are at their highest since early March and have rallied nearly 10% in the last four days. &#8220;The [&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-386214","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\/386214","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=386214"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/386214\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=386214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=386214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=386214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}