{"id":411514,"date":"2021-04-22T11:01:41","date_gmt":"2021-04-22T05:31:41","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=411514"},"modified":"2021-04-22T12:09:27","modified_gmt":"2021-04-22T06:39:27","slug":"oil-prices-fall-as-indias-covid-19-second-wave-drives-down-demand-outlook","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-fall-as-indias-covid-19-second-wave-drives-down-demand-outlook\/","title":{"rendered":"Oil prices fall as India&#8217;s Covid-19 second wave drives down demand outlook"},"content":{"rendered":"<p>Oil prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world&#8217;s third-biggest oil importer. <\/p>\n<p>Brent crude futures for June fell 48 cents, or 0.7%, to $66.09 a barrel at 0515 GMT, after dropping 48 cents on Tuesday.<\/p>\n<p>US West Texas Intermediate (WTI) crude futures for June fell 52 cents, or 0.8%, to $62.15 a barrel. The May contract expired on Tuesday down 1.5% at $62.44.<\/p>\n<p>&#8220;India is a major crude oil consumer. So rising virus cases and thereby restrictions to limit the spread will dampen the demand outlook,&#8221; said Ravindra Rao, vice president for commodities at Kotak Securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world&#8217;s third-biggest oil importer. Brent crude futures for June fell 48 cents, or 0.7%, to $66.09 a barrel at 0515 GMT, after dropping 48 cents on Tuesday. US West Texas Intermediate (WTI) crude futures for June fell 52 cents, or 0.8%, to $62.15 a barrel. The May contract expired on Tuesday down 1.5% at $62.44. &#8220;India is a major crude oil consumer. So rising virus cases and thereby restrictions to limit the spread will [&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-411514","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\/411514","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=411514"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/411514\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=411514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=411514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=411514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}