{"id":401016,"date":"2021-02-18T11:58:03","date_gmt":"2021-02-18T06:28:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=401016"},"modified":"2021-02-18T13:14:48","modified_gmt":"2021-02-18T07:44:48","slug":"oil-extends-gain-with-us-crisis-slamming-nations-crude-output","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-extends-gain-with-us-crisis-slamming-nations-crude-output\/","title":{"rendered":"Oil extends gain with US crisis slamming nation\u2019s crude output"},"content":{"rendered":"<p>Oil extended its rally toward $62 a barrel as a worsening US energy crisis took out almost 40% of the nation\u2019s crude production.<\/p>\n<p>Futures in New York climbed as much as 1% after closing at a 13-month high on Wednesday. More than 4 million barrels a day of output is now offline, according to traders and executives, amid an unprecedented cold snap that\u2019s frozen well operations and led to widespread power cuts. However, a spate of refinery outages has curbed demand for crude in the US, while gasoline consumption is also down as the cold keeps more Americans off the road.<\/p>\n<p>The supply shock is aiding an already frothy global oil market and is starting to impact global energy flows, with traders snapping up ocean-going tankers to haul millions of barrels of European diesel to the US Adding to the bullishness, the American Petroleum Institute reported an almost 6 million-barrel drop in US crude stockpiles before official data due later on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil extended its rally toward $62 a barrel as a worsening US energy crisis took out almost 40% of the nation\u2019s crude production. Futures in New York climbed as much as 1% after closing at a 13-month high on Wednesday. More than 4 million barrels a day of output is now offline, according to traders and executives, amid an unprecedented cold snap that\u2019s frozen well operations and led to widespread power cuts. However, a spate of refinery outages has curbed demand for crude in the US, while gasoline consumption is also down as the cold keeps more Americans off the [&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-401016","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\/401016","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=401016"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401016\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=401016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=401016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=401016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}