{"id":417380,"date":"2021-05-29T08:48:12","date_gmt":"2021-05-29T03:18:12","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=417380"},"modified":"2021-05-29T09:16:20","modified_gmt":"2021-05-29T03:46:20","slug":"oil-prices-little-changed-as-iran-concerns-offset-rosy-demand-outlook-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-little-changed-as-iran-concerns-offset-rosy-demand-outlook-2\/","title":{"rendered":"Oil prices little changed as Iran concerns offset rosy demand outlook"},"content":{"rendered":"<p>SINGAPORE (Reuters) -Oil prices were little changed on Friday, with Brent holding near $70 a barrel as firm U.S. economic data and expectations of a strong rebound in global demand in the third quarter offset concerns about more supply from Iran once sanctions are lifted. <\/p>\n<p>Brent crude futures for July fell 9 cents, 0.1%, to $69.37 a barrel by 0643 GMT while U.S. West Texas Intermediate crude for July was at $66.90 a barrel, up 5 cents, or 0.1%.<\/p>\n<p>Prices are &#8220;running up against a wall&#8221;, Howie Lee, economist at Singapore&#8217;s OCBC bank said, referring to technical charts that showed prices have hit resistance levels.<\/p>\n<p>&#8220;$65-$70 should still be the holding zone for oil unless there is a very good reason to go above $70,&#8221; he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) -Oil prices were little changed on Friday, with Brent holding near $70 a barrel as firm U.S. economic data and expectations of a strong rebound in global demand in the third quarter offset concerns about more supply from Iran once sanctions are lifted. Brent crude futures for July fell 9 cents, 0.1%, to $69.37 a barrel by 0643 GMT while U.S. West Texas Intermediate crude for July was at $66.90 a barrel, up 5 cents, or 0.1%. Prices are &#8220;running up against a wall&#8221;, Howie Lee, economist at Singapore&#8217;s OCBC bank said, referring to technical charts that showed [&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-417380","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\/417380","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=417380"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/417380\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=417380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=417380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=417380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}