{"id":397497,"date":"2021-01-28T08:37:59","date_gmt":"2021-01-28T03:07:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=397497"},"modified":"2021-01-28T09:23:01","modified_gmt":"2021-01-28T03:53:01","slug":"oil-rises-as-us-oil-stockpiles-drop-as-covid-19-cases-decline-in-china","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-as-us-oil-stockpiles-drop-as-covid-19-cases-decline-in-china\/","title":{"rendered":"Oil rises as US oil stockpiles drop as Covid-19 cases decline in China"},"content":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices climbed on Wednesday after industry data showed U.S. crude stockpiles fell unexpectedly last week and China, the world&#8217;s second-biggest oil user, reported its lowest daily rise in COVID-19 cases, bolstering hopes of a pick-up in demand. <\/p>\n<p>Brent crude futures climbed 19 cents, or 0.3%, to $56.10 a barrel at 0452 GMT, adding to a small gain on Tuesday.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.4%, to $52.81 a barrel, reversing Tuesday&#8217;s loss.<\/p>\n<p>&#8220;WTI is slightly firmer on the back of a larger-than-expected draw in US crude inventories reported by the API, which is offset by builds in gasoline and distillates,&#8221; said Vandana Hari, oil market analyst at Vanda Insights.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices climbed on Wednesday after industry data showed U.S. crude stockpiles fell unexpectedly last week and China, the world&#8217;s second-biggest oil user, reported its lowest daily rise in COVID-19 cases, bolstering hopes of a pick-up in demand. Brent crude futures climbed 19 cents, or 0.3%, to $56.10 a barrel at 0452 GMT, adding to a small gain on Tuesday. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.4%, to $52.81 a barrel, reversing Tuesday&#8217;s loss. &#8220;WTI is slightly firmer on the back of a larger-than-expected draw in US crude inventories reported by the [&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-397497","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\/397497","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=397497"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/397497\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=397497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=397497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=397497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}