{"id":404707,"date":"2021-03-15T10:14:00","date_gmt":"2021-03-15T04:44:00","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=404707"},"modified":"2021-03-15T10:14:00","modified_gmt":"2021-03-15T04:44:00","slug":"oil-advances-above-66-as-week-opens-with-the-recovery-in-focus","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-advances-above-66-as-week-opens-with-the-recovery-in-focus\/","title":{"rendered":"Oil advances above $66 as week opens with the recovery in focus"},"content":{"rendered":"<p>Oil topped $66 a barrel as traders assessed prospects for further recovery from the pandemic and the outlook for rising global demand as the OPEC+ alliance presses on with output curbs to drain inventories.<\/p>\n<p>West Texas Intermediate in New York gained as much as 0.8% after easing on Friday to cap a narrow weekly loss. The weekly U.S. Covid-19 death toll sank to a four-month low and new infections dropped, boosting the outlook for energy consumption in the world\u2019s largest economy. Still, there are pockets of concern in the Asia-Pacific, including a fresh outbreak in Hong Kong.<\/p>\n<p>Crude has rallied strongly in the opening months of 2021, supported by the vaccine-aided recovery from the pandemic and the decision by the Organization of Petroleum Exporting Countries and its allies to keep a tight rein on supplies. That combination &#8212; plus an uptick in attacks on Saudi oil infrastructure by Houthi rebels &#8212; helped London\u2019s Brent crude to top $71 a barrel last week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil topped $66 a barrel as traders assessed prospects for further recovery from the pandemic and the outlook for rising global demand as the OPEC+ alliance presses on with output curbs to drain inventories. West Texas Intermediate in New York gained as much as 0.8% after easing on Friday to cap a narrow weekly loss. The weekly U.S. Covid-19 death toll sank to a four-month low and new infections dropped, boosting the outlook for energy consumption in the world\u2019s largest economy. Still, there are pockets of concern in the Asia-Pacific, including a fresh outbreak in Hong Kong. Crude has rallied [&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":[139,130,187],"tags":[],"class_list":["post-404707","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/404707","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=404707"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/404707\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=404707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=404707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=404707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}