{"id":389075,"date":"2020-12-11T10:15:47","date_gmt":"2020-12-11T04:45:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=389075"},"modified":"2020-12-11T10:15:47","modified_gmt":"2020-12-11T04:45:47","slug":"brent-crude-tops-50-a-barrel-for-the-1st-time-since-march","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/brent-crude-tops-50-a-barrel-for-the-1st-time-since-march\/","title":{"rendered":"Brent crude tops $50 a barrel for the 1st time since March"},"content":{"rendered":"<p>Brent crude oil futures rose above $50 a barrel for the first time since March, with the prospect of coronavirus vaccines boosting the market\u2019s outlook for the coming year.<\/p>\n<p>The global benchmark increased as much as 2.7% to $50.17 a barrel by 9:41 am New York time. It follows a sharp market rally that has been buoyed by positive breakthroughs in the race for a Covid-19 vaccine. With the outlook for 2021 firming in recent weeks, the OPEC+ alliance reached a compromise deal to gradually taper production cuts next year.<\/p>\n<p>The futures curve has also flipped on its head, trading in a structure known as backwardation that makes it profitable to roll contracts from one month to the next. That is also attracting a rush of new flows to the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brent crude oil futures rose above $50 a barrel for the first time since March, with the prospect of coronavirus vaccines boosting the market\u2019s outlook for the coming year. The global benchmark increased as much as 2.7% to $50.17 a barrel by 9:41 am New York time. It follows a sharp market rally that has been buoyed by positive breakthroughs in the race for a Covid-19 vaccine. With the outlook for 2021 firming in recent weeks, the OPEC+ alliance reached a compromise deal to gradually taper production cuts next year. The futures curve has also flipped on its head, trading [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-389075","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389075","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=389075"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/389075\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=389075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=389075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=389075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}