{"id":395858,"date":"2021-01-18T08:50:12","date_gmt":"2021-01-18T03:20:12","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=395858"},"modified":"2021-01-18T09:06:20","modified_gmt":"2021-01-18T03:36:20","slug":"oil-prices-drops-1-as-rising-coronavirus-cases-end-supply-led-rally","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drops-1-as-rising-coronavirus-cases-end-supply-led-rally\/","title":{"rendered":"Oil prices drops 1% as rising coronavirus cases end supply-led rally"},"content":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices fell on Monday, extending losses that last week ended a rally driven by production cuts and strong Chinese demand, with the market&#8217;s recovery outlook being called into question as coronavirus infections rise.<\/p>\n<p>Brent crude fell 45 cents, or nearly 1%, to $54.65 a barrel by 0207 GMT, after dropping 2.3% on Friday. U.S. oil was down by 43 cents, also nearly 1%, at $51.93 a barrel, having declined 2.3% in the previous trading session.<\/p>\n<p>The benchmarks had rallied in recent weeks, buoyed by the start of COVID-19 vaccine rollouts and a surprise cut of crude output by the world&#8217;s biggest oil exporter, Saudi Arabia. Surging new infections throughout the world, however, have raised doubts about how long demand would hold up.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices fell on Monday, extending losses that last week ended a rally driven by production cuts and strong Chinese demand, with the market&#8217;s recovery outlook being called into question as coronavirus infections rise. Brent crude fell 45 cents, or nearly 1%, to $54.65 a barrel by 0207 GMT, after dropping 2.3% on Friday. U.S. oil was down by 43 cents, also nearly 1%, at $51.93 a barrel, having declined 2.3% in the previous trading session. The benchmarks had rallied in recent weeks, buoyed by the start of COVID-19 vaccine rollouts and a surprise cut of crude [&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-395858","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\/395858","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=395858"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/395858\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=395858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=395858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=395858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}