{"id":406405,"date":"2021-03-23T08:40:52","date_gmt":"2021-03-23T03:10:52","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=406405"},"modified":"2021-03-23T09:24:44","modified_gmt":"2021-03-23T03:54:44","slug":"oil-steadies-but-european-lockdowns-hurt-outlook-for-demand-recovery","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-steadies-but-european-lockdowns-hurt-outlook-for-demand-recovery\/","title":{"rendered":"Oil steadies but European lockdowns hurt outlook for demand recovery"},"content":{"rendered":"<p>NEW YORK (Reuters) &#8211; Oil steadied on Monday as hopes for a pick-up in demand later this year helped arrest last week&#8217;s broad sell-off, but prices stayed under pressure as new European coronavirus lockdowns made a quick recovery look less likely. <\/p>\n<p>Brent crude was up 6 cents or 0.1% to $64.59 a barrel by 1:33 p.m. ET (1733 GMT), while U.S. oil for delivery in April fell 22 cents, or 0.4%, to $61.20 a barrel ahead of expiry.<\/p>\n<p>The more active U.S. crude futures for delivery in May rose 14 cents or 0.2% to $61.58 a barrel.<\/p>\n<p>Both contracts fell more than 6% last week after making steady gains for months on the back of output cuts and an expected demand recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) &#8211; Oil steadied on Monday as hopes for a pick-up in demand later this year helped arrest last week&#8217;s broad sell-off, but prices stayed under pressure as new European coronavirus lockdowns made a quick recovery look less likely. Brent crude was up 6 cents or 0.1% to $64.59 a barrel by 1:33 p.m. ET (1733 GMT), while U.S. oil for delivery in April fell 22 cents, or 0.4%, to $61.20 a barrel ahead of expiry. The more active U.S. crude futures for delivery in May rose 14 cents or 0.2% to $61.58 a barrel. Both contracts 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-406405","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\/406405","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=406405"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/406405\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=406405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=406405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=406405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}