{"id":394504,"date":"2021-01-11T10:44:56","date_gmt":"2021-01-11T05:14:56","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=394504"},"modified":"2021-01-11T12:45:44","modified_gmt":"2021-01-11T07:15:44","slug":"oil-rises-above-55-set-for-weekly-gain-on-saudi-output-cut","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-above-55-set-for-weekly-gain-on-saudi-output-cut\/","title":{"rendered":"Oil rises above $55, set for weekly gain on Saudi output cut"},"content":{"rendered":"<p>Oil prices hit 11-month highs and were on track for a weekly gain on Friday, supported by Saudi Arabia&#8217;s pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases.<\/p>\n<p>Brent crude climbed 88 cents, or 1.6%, to $55.26 a barrel by 1436 GMT, the highest since late February, and U.S. West Texas Intermediate (WTI) gained 79 cents, or 1.6%, to $51.62, also its highest level since late February.<\/p>\n<p>Both were on track for weekly gains of more than 6%.<\/p>\n<p>&#8220;The surprise Saudi cut is keeping bulls at the helm,&#8221; said Stephen Brennock of oil broker PVM. &#8220;It will take a brave man to bet against the current bullish run of play.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices hit 11-month highs and were on track for a weekly gain on Friday, supported by Saudi Arabia&#8217;s pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases. Brent crude climbed 88 cents, or 1.6%, to $55.26 a barrel by 1436 GMT, the highest since late February, and U.S. West Texas Intermediate (WTI) gained 79 cents, or 1.6%, to $51.62, also its highest level since late February. Both were on track for weekly gains of more than 6%. &#8220;The surprise Saudi cut is keeping bulls at the helm,&#8221; said Stephen Brennock of 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":[130,191,136],"tags":[],"class_list":["post-394504","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394504","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=394504"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394504\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=394504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=394504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=394504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}