{"id":411511,"date":"2021-04-22T11:04:27","date_gmt":"2021-04-22T05:34:27","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=411511"},"modified":"2021-04-22T12:12:06","modified_gmt":"2021-04-22T06:42:06","slug":"oil-marks-anniversary-of-crash-below-zero-with-rally-above-64","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-marks-anniversary-of-crash-below-zero-with-rally-above-64\/","title":{"rendered":"Oil marks anniversary of crash below zero with rally above $64"},"content":{"rendered":"<p>Oil jumped above $64 a barrel, a year to the day after futures for the U.S. benchmark collapsed below zero, with the world\u2019s most important commodity extending a powerful rally on bets for better demand. <\/p>\n<p>West Texas Intermediate advanced 1.3%, adding to Monday\u2019s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a day amid a budget dispute.<\/p>\n<p>Oil\u2019s forward curve also suggests growing confidence &#8212; particularly as U.S. demand recovers &#8212; with the spread between WTI\u2019s contracts for December this year and 2022 at the widest backwardation in about a month. Yet there are still reasons to be cautious, with India suffering a fresh wave of coronavirus infections and refiners there starting to curb processing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil jumped above $64 a barrel, a year to the day after futures for the U.S. benchmark collapsed below zero, with the world\u2019s most important commodity extending a powerful rally on bets for better demand. West Texas Intermediate advanced 1.3%, adding to Monday\u2019s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a day amid a budget dispute. Oil\u2019s forward curve also suggests growing confidence &#8212; particularly as U.S. demand recovers &#8212; with the spread between WTI\u2019s contracts for December this year and 2022 at the widest backwardation in about a month. Yet there [&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":[141,130,183],"tags":[],"class_list":["post-411511","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/411511","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=411511"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/411511\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=411511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=411511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=411511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}