{"id":397448,"date":"2021-01-27T12:07:24","date_gmt":"2021-01-27T06:37:24","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=397448"},"modified":"2021-01-27T12:54:02","modified_gmt":"2021-01-27T07:24:02","slug":"oil-holds-gain-near-53-as-tightening-supply-offsets-virus-woes","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-holds-gain-near-53-as-tightening-supply-offsets-virus-woes\/","title":{"rendered":"Oil holds gain near $53 as tightening supply offsets virus woes"},"content":{"rendered":"<p>Oil held gains near $53 a barrel as more signs of tightening supply offset concerns that a resurgent Covid-19 outbreak in some regions and a slow roll-out of vaccinations will blunt near-term demand.<\/p>\n<p>Futures in New York were steady after rising 1% on Monday. Russian seaborne exports of its flagship Urals crude will drop by almost 20% in February from a month earlier, adding to lower Iraqi output and crimped Libyan shipments. Key prompt timespreads for the US benchmark and global Brent are in a bullish market structure and widening, indicating shrinking supplies.<\/p>\n<p>The market, however, still faces headwinds from the virus. A flare-up in China is threatening fuel demand during the Lunar New Year period, with the government encouraging millions not to travel to prevent further spread.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil held gains near $53 a barrel as more signs of tightening supply offset concerns that a resurgent Covid-19 outbreak in some regions and a slow roll-out of vaccinations will blunt near-term demand. Futures in New York were steady after rising 1% on Monday. Russian seaborne exports of its flagship Urals crude will drop by almost 20% in February from a month earlier, adding to lower Iraqi output and crimped Libyan shipments. Key prompt timespreads for the US benchmark and global Brent are in a bullish market structure and widening, indicating shrinking supplies. The market, however, still faces headwinds from [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,183],"tags":[],"class_list":["post-397448","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/397448","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=397448"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/397448\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=397448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=397448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=397448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}