{"id":414974,"date":"2021-05-15T09:00:18","date_gmt":"2021-05-15T03:30:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=414974"},"modified":"2021-05-15T09:51:10","modified_gmt":"2021-05-15T04:21:10","slug":"oil-prices-drop-3-on-indias-covid-19-crisis-us-pipeline-restart","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-drop-3-on-indias-covid-19-crisis-us-pipeline-restart\/","title":{"rendered":"Oil prices drop 3% on India&#8217;s Covid-19 crisis; US pipeline restart"},"content":{"rendered":"<p>NEW YORK (Reuters) -Oil prices fell about 3% on Thursday as India&#8217;s coronavirus crisis deepened and a key U.S. fuel pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after forecasts for a rebound in global demand later in the year. <\/p>\n<p>Brent crude ended the session down $2.27, or 3.3%, at $67.05 a barrel, after rising 1% on Wednesday. West Texas Intermediate (WTI) settled $2.26, or 3.4%, lower at $63.82 a barrel, having risen 1.2% in the previous session.<\/p>\n<p>Both benchmarks marked their biggest daily drops in percentage terms since early April.<\/p>\n<p>Prices also came under pressure as a broader surge in commodity prices, labor shortage and much stronger-than-expected consumer prices data this week have stoked inflation concerns that could force the U.S. Federal Reserve to raise interest rates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) -Oil prices fell about 3% on Thursday as India&#8217;s coronavirus crisis deepened and a key U.S. fuel pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after forecasts for a rebound in global demand later in the year. Brent crude ended the session down $2.27, or 3.3%, at $67.05 a barrel, after rising 1% on Wednesday. West Texas Intermediate (WTI) settled $2.26, or 3.4%, lower at $63.82 a barrel, having risen 1.2% in the previous session. Both benchmarks marked their biggest daily drops in percentage terms since early April. Prices also came [&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-414974","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\/414974","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=414974"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/414974\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=414974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=414974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=414974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}