{"id":419126,"date":"2021-06-08T09:01:43","date_gmt":"2021-06-08T03:31:43","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=419126"},"modified":"2021-06-08T09:43:41","modified_gmt":"2021-06-08T04:13:41","slug":"oil-prices-retreat-as-investors-await-iran-nuclear-talks-this-week","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-retreat-as-investors-await-iran-nuclear-talks-this-week\/","title":{"rendered":"Oil prices retreat as investors await Iran nuclear talks this week"},"content":{"rendered":"<p>SINGAPORE (Reuters) -Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week&#8217;s talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies. <\/p>\n<p>Brent crude futures for August fell 38 cents, or 0.5%, to $71.51 a barrel by 0519 GMT, after earlier hitting $72.27, their highest since May 2019. U.S. West Texas Intermediate crude for July touched $70 for the first time since October 2018 but reversed course to be at $69.32 a barrel, down 30 cents, or 0.4%.<\/p>\n<p>Investors may have sold off some contracts to take profit when WTI hit $70, said Avtar Sandu, a senior commodities manager at Phillips Futures in Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) -Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week&#8217;s talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies. Brent crude futures for August fell 38 cents, or 0.5%, to $71.51 a barrel by 0519 GMT, after earlier hitting $72.27, their highest since May 2019. U.S. West Texas Intermediate crude for July touched $70 for the first time since October 2018 but reversed course to be at $69.32 a barrel, down 30 cents, or 0.4%. Investors may have sold off some contracts [&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-419126","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\/419126","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=419126"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/419126\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=419126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=419126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=419126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}