{"id":402214,"date":"2021-02-26T12:36:13","date_gmt":"2021-02-26T07:06:13","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=402214"},"modified":"2021-02-26T12:36:13","modified_gmt":"2021-02-26T07:06:13","slug":"oil-prices-retreat-from-1-year-high-alongside-global-market-selloff","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-retreat-from-1-year-high-alongside-global-market-selloff\/","title":{"rendered":"Oil prices retreat from 1-year high alongside global market selloff"},"content":{"rendered":"<p>Oil edged lower as crude\u2019s rally on a tightening global supply outlook lost some momentum amid a broader market decline.<\/p>\n<p>Futures in New York fell as much as 0.9 per cent on Thursday with US equities weakening amid concerns that markets could soon face accelerating inflation. Meanwhile, technical indicators show crude hovering in overbought territory after skyrocketing to one-year highs this week.<\/p>\n<p>\u201cOil has had an incredible run,\u201d so prices were due for a correction, said Phil Streible, chief market strategist at Blue Line Futures LLC in Chicago. \u201cBut the tailwinds of oil going up are still there, so any kind of correction will likely be short-lived.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil edged lower as crude\u2019s rally on a tightening global supply outlook lost some momentum amid a broader market decline. Futures in New York fell as much as 0.9 per cent on Thursday with US equities weakening amid concerns that markets could soon face accelerating inflation. Meanwhile, technical indicators show crude hovering in overbought territory after skyrocketing to one-year highs this week. \u201cOil has had an incredible run,\u201d so prices were due for a correction, said Phil Streible, chief market strategist at Blue Line Futures LLC in Chicago. \u201cBut the tailwinds of oil going up are still there, so any [&hellip;]<\/p>\n","protected":false},"author":39,"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-402214","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\/402214","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=402214"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402214\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=402214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=402214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=402214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}