{"id":405734,"date":"2021-03-19T08:35:58","date_gmt":"2021-03-19T03:05:58","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=405734"},"modified":"2021-03-19T09:08:06","modified_gmt":"2021-03-19T03:38:06","slug":"oil-prices-fall-2-as-inventories-rise-and-vaccine-rollout-stalls","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-fall-2-as-inventories-rise-and-vaccine-rollout-stalls\/","title":{"rendered":"Oil prices fall 2% as inventories rise and vaccine rollout stalls"},"content":{"rendered":"<p>Oil prices fell for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic.<\/p>\n<p>Brent crude fell $1.47, or 2.16%, to $66.53 a barrel by 1341 GMT. U.S. oil was down $1.50, or 2.32%, at $63.10 after shedding 0.3% in the previous session. Both contracts are down more than 4% over the past five days. <\/p>\n<p>&#8220;Short-term developments &#8211; stuttering vaccine rollouts and the build in U.S. oil inventories &#8211; are driving sentiment, but the longer-term oil outlook is still encouraging,&#8221; said PVM Oil Associates analyst Tamas Varga. <\/p>\n<p>&#8220;Yesterday&#8217;s U.S. Federal Reserve meeting provided a boost to equities &#8230; U.S. economic growth has been revised upwards while unemployment is expected to decline.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic. Brent crude fell $1.47, or 2.16%, to $66.53 a barrel by 1341 GMT. U.S. oil was down $1.50, or 2.32%, at $63.10 after shedding 0.3% in the previous session. Both contracts are down more than 4% over the past five days. &#8220;Short-term developments &#8211; stuttering vaccine rollouts and the build in U.S. oil inventories &#8211; are driving sentiment, but the longer-term oil outlook is still encouraging,&#8221; said PVM Oil [&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-405734","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\/405734","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=405734"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/405734\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=405734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=405734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=405734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}