{"id":396479,"date":"2021-01-21T08:56:55","date_gmt":"2021-01-21T03:26:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=396479"},"modified":"2021-01-21T09:32:58","modified_gmt":"2021-01-21T04:02:58","slug":"oil-above-56-on-us-stimulus-hopes-ahead-of-joe-biden-inauguration","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-above-56-on-us-stimulus-hopes-ahead-of-joe-biden-inauguration\/","title":{"rendered":"Oil above $56 on US stimulus hopes ahead of Joe Biden inauguration"},"content":{"rendered":"<p>Oil rose above $56 a barrel on Wednesday, supported by expectations that the new US administration will deliver massive stimulus spending that would lift demand, as well as by OPEC curbs and forecasts for a drop in US crude inventories. <\/p>\n<p>US Treasury Secretary nominee Janet Yellen on Tuesday urged lawmakers to &#8220;act big&#8221; on pandemic relief spending. <\/p>\n<p>A fall in the dollar after the comments helped oil to rally, analysts said. <\/p>\n<p>&#8220;This provided a good backdrop for oil and other risk assets,&#8221; said Stephen Brennock of broker PVM. &#8220;While the near-term demand environment continues to be gripped by weakness and uncertainty, the future is brightening.&#8221; Brent crude was up 61 cents, or 1.1%, at $56.51 a barrel at 1435 GMT, having gained 2.1% on Tuesday. U.S. West Texas Intermediate (WTI) crude climbed 66 cents, or 1.3%, to $53.64.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil rose above $56 a barrel on Wednesday, supported by expectations that the new US administration will deliver massive stimulus spending that would lift demand, as well as by OPEC curbs and forecasts for a drop in US crude inventories. US Treasury Secretary nominee Janet Yellen on Tuesday urged lawmakers to &#8220;act big&#8221; on pandemic relief spending. A fall in the dollar after the comments helped oil to rally, analysts said. &#8220;This provided a good backdrop for oil and other risk assets,&#8221; said Stephen Brennock of broker PVM. &#8220;While the near-term demand environment continues to be gripped by weakness and [&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-396479","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\/396479","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=396479"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/396479\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=396479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=396479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=396479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}