{"id":405788,"date":"2021-03-19T10:45:37","date_gmt":"2021-03-19T05:15:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=405788"},"modified":"2021-03-19T10:45:37","modified_gmt":"2021-03-19T05:15:37","slug":"oil-battered-in-ugly-week-as-demand-concerns-dollar-spur-slump","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-battered-in-ugly-week-as-demand-concerns-dollar-spur-slump\/","title":{"rendered":"Oil battered in ugly week as demand concerns, dollar spur slump"},"content":{"rendered":"<p>Oil extended a dramatic rout, declining for a sixth day to trade below $60 a barrel on concern about near-term demand and a rising dollar.<\/p>\n<p>West Texas Intermediate in New York is on course for the biggest weekly loss since October as a slew of negative factors combined to drive a sudden selloff. Inflation concerns that lifted Treasury yields pushed the U.S. currency higher, just as signs emerged of softer demand in Asia. In addition, crude\u2019s plunge may be linked to some unwinding of long positions by commodity trading advisors as daily moves of more than 3% can trigger funds to quickly unload.<\/p>\n<p>Oil\u2019s run of losses means that the world\u2019s most important commodity has suffered from an abrupt reversal of fortunes, although prices remain more than 20% higher this year amid optimism about a recovery from the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil extended a dramatic rout, declining for a sixth day to trade below $60 a barrel on concern about near-term demand and a rising dollar. West Texas Intermediate in New York is on course for the biggest weekly loss since October as a slew of negative factors combined to drive a sudden selloff. Inflation concerns that lifted Treasury yields pushed the U.S. currency higher, just as signs emerged of softer demand in Asia. In addition, crude\u2019s plunge may be linked to some unwinding of long positions by commodity trading advisors as daily moves of more than 3% can trigger funds [&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-405788","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\/405788","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=405788"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/405788\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=405788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=405788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=405788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}