{"id":404522,"date":"2021-03-12T08:31:19","date_gmt":"2021-03-12T03:01:19","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=404522"},"modified":"2021-03-12T09:01:16","modified_gmt":"2021-03-12T03:31:16","slug":"oil-prices-rise-on-economic-outlook-drawdown-in-fuel-stocks-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-rise-on-economic-outlook-drawdown-in-fuel-stocks-2\/","title":{"rendered":"Oil prices rise on economic outlook, drawdown in fuel stocks"},"content":{"rendered":"<p>Oil prices rose on Thursday on a weaker dollar as fears of rising U.S. inflation eased while a steep fall in U.S. fuel stocks meant a crude glut would be short-lived as refiners restart in Texas. <\/p>\n<p>Brent crude oil futures for May rose 79 cents, or 1.16%, to $68.69 a barrel by 1430 GMT, while U.S. West Texas Intermediate crude for April was up 62 cents, or 0.96%, at $65.06. Both contracts had risen by more than $1 a barrel in earlier trade. <\/p>\n<p>&#8220;Fears of inflation are receding as the February U.S. CPI was at 1.7%. Consequently, bond yields fell and equities stabilized with the Dow hitting an all-time high. The dollar, therefore, is weakening, which helps oil,&#8221; Tamas Varga, senior analyst at PVM Oil Associates, said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose on Thursday on a weaker dollar as fears of rising U.S. inflation eased while a steep fall in U.S. fuel stocks meant a crude glut would be short-lived as refiners restart in Texas. Brent crude oil futures for May rose 79 cents, or 1.16%, to $68.69 a barrel by 1430 GMT, while U.S. West Texas Intermediate crude for April was up 62 cents, or 0.96%, at $65.06. Both contracts had risen by more than $1 a barrel in earlier trade. &#8220;Fears of inflation are receding as the February U.S. CPI was at 1.7%. Consequently, bond yields fell [&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-404522","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\/404522","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=404522"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/404522\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=404522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=404522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=404522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}