{"id":406400,"date":"2021-03-23T08:36:12","date_gmt":"2021-03-23T03:06:12","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=406400"},"modified":"2021-03-23T09:21:44","modified_gmt":"2021-03-23T03:51:44","slug":"oil-prices-decline-as-european-coronavirus-lockdowns-douse-recovery-hopes-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-decline-as-european-coronavirus-lockdowns-douse-recovery-hopes-2\/","title":{"rendered":"Oil prices decline as European coronavirus lockdowns douse recovery hopes"},"content":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices resumed their decline on Monday, falling around 1% as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading.<\/p>\n<p>Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 0136 GMT. U.S. oil was off by 68 cents, or 1.1%, at $60.74 a barrel. Both contracts fell by more than 6% last week. <\/p>\n<p>Germany plans to extend a lockdown to contain COVID-19 infections into a fifth month, according to a draft proposal, after new cases exceeded levels authorities say will cause hospitals to be overstretched. <\/p>\n<p>&#8220;The reality is that we&#8217;re still a long way from a full demand recovery, and it&#8217;s the record levels of withdrawn production capacity that&#8217;s the main prop for the oil market,&#8221; said Stephen Innes, chief global market strategist at Axi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices resumed their decline on Monday, falling around 1% as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading. Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 0136 GMT. U.S. oil was off by 68 cents, or 1.1%, at $60.74 a barrel. Both contracts fell by more than 6% last week. Germany plans to extend a lockdown to contain COVID-19 infections into a fifth month, according to a draft proposal, after new cases exceeded levels authorities say will cause hospitals to [&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-406400","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\/406400","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=406400"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/406400\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=406400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=406400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=406400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}