{"id":417387,"date":"2021-05-29T08:50:53","date_gmt":"2021-05-29T03:20:53","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=417387"},"modified":"2021-05-29T09:17:36","modified_gmt":"2021-05-29T03:47:36","slug":"oil-inches-higher-as-upbeat-demand-outlook-counters-supply-concerns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-inches-higher-as-upbeat-demand-outlook-counters-supply-concerns\/","title":{"rendered":"Oil inches higher as upbeat demand outlook counters supply concerns"},"content":{"rendered":"<p>Oil prices inched higher on Friday, with Brent holding near $70 a barrel as strong U.S. economic data and expectations of a rebound in global demand outweighed concerns about more supply from Iran once sanctions are lifted.<\/p>\n<p>Brent was up 33 cents, or 0.5%, at $69.79 a barrel by 1333 GMT, and U.S. West Texas Intermediate crude rose 44 cents, or 0.7%, to $67.29 a barrel. <\/p>\n<p>&#8220;Boosted by good economic data and risk appetite among investors on the financial markets, Brent is making a renewed bid for the psychologically important $70 per barrel mark,&#8221; said Commerzbank analyst Eugen Weinberg.<\/p>\n<p>&#8220;Concerns about demand because of the pandemic are giving way to optimism in view of the rapid return of consumers,&#8221; he added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices inched higher on Friday, with Brent holding near $70 a barrel as strong U.S. economic data and expectations of a rebound in global demand outweighed concerns about more supply from Iran once sanctions are lifted. Brent was up 33 cents, or 0.5%, at $69.79 a barrel by 1333 GMT, and U.S. West Texas Intermediate crude rose 44 cents, or 0.7%, to $67.29 a barrel. &#8220;Boosted by good economic data and risk appetite among investors on the financial markets, Brent is making a renewed bid for the psychologically important $70 per barrel mark,&#8221; said Commerzbank analyst Eugen Weinberg. &#8220;Concerns [&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-417387","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\/417387","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=417387"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/417387\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=417387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=417387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=417387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}