{"id":392474,"date":"2020-12-31T09:06:43","date_gmt":"2020-12-31T03:36:43","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=392474"},"modified":"2020-12-31T09:55:22","modified_gmt":"2020-12-31T04:25:22","slug":"oil-up-on-hopes-of-recovery-in-demand-lower-us-inventories","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-up-on-hopes-of-recovery-in-demand-lower-us-inventories\/","title":{"rendered":"Oil up on hopes of recovery in demand, lower US inventories"},"content":{"rendered":"<p>Oil gained more ground on Wednesday as a US coronavirus fiscal aid package and a decline in crude oil inventories lifted prices. <\/p>\n<p>Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and US West Texas Intermediate (WTI) crude rose 29 cents, or 0.6%, to $48.29. <\/p>\n<p>&#8220;Oil prices have remained supported by a weaker US dollar overnight and have finally found a friend in the API inventory report,&#8221; said Stephen Innes, chief global market strategist at Axi, a broker. <\/p>\n<p>&#8220;This morning the American Petroleum Institute reported a much larger draw versus consensus in crude oil inventories for the week ending December 25.&#8221; <\/p>\n<p>The dollar fell to its lowest in more than two years against the euro as currency traders looked past a new delay in US stimulus cheques and maintained bets that additional financial aid was still likely.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil gained more ground on Wednesday as a US coronavirus fiscal aid package and a decline in crude oil inventories lifted prices. Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and US West Texas Intermediate (WTI) crude rose 29 cents, or 0.6%, to $48.29. &#8220;Oil prices have remained supported by a weaker US dollar overnight and have finally found a friend in the API inventory report,&#8221; said Stephen Innes, chief global market strategist at Axi, a broker. &#8220;This morning the American Petroleum Institute reported a much larger draw versus consensus in crude oil [&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-392474","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\/392474","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=392474"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/392474\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=392474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=392474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=392474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}