{"id":404304,"date":"2021-03-11T09:54:23","date_gmt":"2021-03-11T04:24:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=404304"},"modified":"2021-03-11T11:13:46","modified_gmt":"2021-03-11T05:43:46","slug":"oil-prices-rise-on-economic-outlook-drawdown-in-fuel-stocks","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-rise-on-economic-outlook-drawdown-in-fuel-stocks\/","title":{"rendered":"Oil prices rise on economic outlook, drawdown in fuel stocks"},"content":{"rendered":"<p>Crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and US fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month&#8217;s Texas storm. <\/p>\n<p>Brent crude oil futures for May rose 40 cents, or 0.6%, to $68.30 a barrel by 0105 GMT, while US West Texas Intermediate crude for April was up 48 cents, or 0.7%, at $64.92.<\/p>\n<p>&#8220;Gasoline stocks fell&#8230; (which) provided the bullish offset and eventually sent oil prices higher on the strong demand for end products, hence an economic recovery,&#8221; said Stephen Innes, Chief Global Markets Strategist at Axi. <\/p>\n<p>&#8220;Given the powerful signals from the US re-opening narrative, it still suggests that the path of least resistance for oil prices is higher.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and US fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month&#8217;s Texas storm. Brent crude oil futures for May rose 40 cents, or 0.6%, to $68.30 a barrel by 0105 GMT, while US West Texas Intermediate crude for April was up 48 cents, or 0.7%, at $64.92. &#8220;Gasoline stocks fell&#8230; (which) provided the bullish offset and eventually sent oil prices higher on the strong demand for end products, hence an economic recovery,&#8221; said Stephen Innes, Chief Global Markets [&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":[146,130,177],"tags":[],"class_list":["post-404304","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/404304","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=404304"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/404304\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=404304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=404304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=404304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}