{"id":390714,"date":"2020-12-22T08:47:16","date_gmt":"2020-12-22T03:17:16","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=390714"},"modified":"2020-12-22T09:24:47","modified_gmt":"2020-12-22T03:54:47","slug":"oil-tumbles-as-new-covid-19-virus-strain-revives-demand-worries","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-tumbles-as-new-covid-19-virus-strain-revives-demand-worries\/","title":{"rendered":"Oil tumbles as new Covid-19 virus strain revives demand worries"},"content":{"rendered":"<p>Oil prices tumbled on Monday as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand. <\/p>\n<p>Brent crude was down $2.23, or 4.3%, to $50.03 a barrel by 1308 GMT while U.S. West Texas Intermediate (WTI) crude was down $2.10, or 4.3%, to $47.00 a barrel. <\/p>\n<p>Both contracts had fallen more than $3 earlier in the session, their biggest daily drop in 6 months. <\/p>\n<p>&#8220;Reports of a new strain of the coronavirus has weighed on risk sentiment and oil. New mobility restrictions across Europe are also not helping as European oil demand will suffer,&#8221; said UBS oil analyst Giovanni Staunovo.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices tumbled on Monday as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand. Brent crude was down $2.23, or 4.3%, to $50.03 a barrel by 1308 GMT while U.S. West Texas Intermediate (WTI) crude was down $2.10, or 4.3%, to $47.00 a barrel. Both contracts had fallen more than $3 earlier in the session, their biggest daily drop in 6 months. &#8220;Reports of a new strain of the coronavirus has weighed on risk sentiment and oil. New mobility restrictions [&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-390714","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\/390714","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=390714"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/390714\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=390714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=390714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=390714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}