{"id":398845,"date":"2021-02-03T12:08:29","date_gmt":"2021-02-03T06:38:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=398845"},"modified":"2021-02-03T12:08:29","modified_gmt":"2021-02-03T06:38:29","slug":"oil-rises-past-54-aided-by-drop-in-dollar-amid-demand-optimism","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rises-past-54-aided-by-drop-in-dollar-amid-demand-optimism\/","title":{"rendered":"Oil rises past $54 aided by drop in dollar amid demand optimism"},"content":{"rendered":"<p>Oil rose past $54 a barrel with help from a falling dollar after jumping the most in three weeks on optimism over the demand outlook.<\/p>\n<p>Futures in New York headed for the highest close in almost a year after being swept up with a rally in US stocks to rise 2.6% Monday. Saudi Aramco said it sees demand returning to pre-virus levels later this year. Royal Dutch Shell Plc raided the North Sea market, buying the most benchmark-grade cargoes in a single day in 10 years in the S&amp;P Global Platts pricing window. A weakening dollar boosts the appeal of commodities that are priced in the currency.<\/p>\n<p>Crude\u2019s futures curve kept strengthening, suggesting the large stockpiles built up last year are shrinking fast and will continue to do so. Brent\u2019s prompt timespread is 27 cents a barrel in backwardation, a bullish market structure where near-dated prices are more expensive than later-dated ones.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil rose past $54 a barrel with help from a falling dollar after jumping the most in three weeks on optimism over the demand outlook. Futures in New York headed for the highest close in almost a year after being swept up with a rally in US stocks to rise 2.6% Monday. Saudi Aramco said it sees demand returning to pre-virus levels later this year. Royal Dutch Shell Plc raided the North Sea market, buying the most benchmark-grade cargoes in a single day in 10 years in the S&amp;P Global Platts pricing window. A weakening dollar boosts the appeal of [&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-398845","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\/398845","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=398845"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398845\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=398845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=398845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=398845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}