{"id":407203,"date":"2021-03-26T10:38:39","date_gmt":"2021-03-26T05:08:39","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=407203"},"modified":"2021-03-26T10:38:39","modified_gmt":"2021-03-26T05:08:39","slug":"oil-drops-in-volatile-week-while-suez-canal-mishap-persists","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-drops-in-volatile-week-while-suez-canal-mishap-persists\/","title":{"rendered":"Oil drops in volatile week while Suez Canal mishap persists"},"content":{"rendered":"<p>Oil slid amid broader market weakness after two wild sessions that saw prices whipsaw around 6% in both directions, while traders continued to monitor a container ship that\u2019s blocking the Suez Canal.<\/p>\n<p>Futures fell as much as 4.1% in New York on Thursday in the wake of declining equities and a stronger US dollar, which reduces the appeal of commodities priced in the currency. Meanwhile, work to re-float the massive ship that\u2019s stuck in the canal &#8212; a key trade route for crude flows &#8212; continued without success on Thursday in Egypt.<\/p>\n<p>\u201cThe move lower in crude oil prices is being driven by a slowdown in commodity index inflows, a stronger US dollar and weaker global equity markets,&#8221; said Ryan Fitzmaurice, commodities strategist at Rabobank. \u201cModestly lower crude oil prices&#8221; will likely persist in the near-term ahead of a seasonal demand pick-up.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil slid amid broader market weakness after two wild sessions that saw prices whipsaw around 6% in both directions, while traders continued to monitor a container ship that\u2019s blocking the Suez Canal. Futures fell as much as 4.1% in New York on Thursday in the wake of declining equities and a stronger US dollar, which reduces the appeal of commodities priced in the currency. Meanwhile, work to re-float the massive ship that\u2019s stuck in the canal &#8212; a key trade route for crude flows &#8212; continued without success on Thursday in Egypt. \u201cThe move lower in crude oil prices is [&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-407203","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\/407203","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=407203"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/407203\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=407203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=407203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=407203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}