{"id":419788,"date":"2021-06-11T08:40:28","date_gmt":"2021-06-11T03:10:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=419788"},"modified":"2021-06-11T09:22:19","modified_gmt":"2021-06-11T03:52:19","slug":"oil-skids-as-start-of-us-summer-driving-season-fails-to-lift-fuel-demand-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-skids-as-start-of-us-summer-driving-season-fails-to-lift-fuel-demand-2\/","title":{"rendered":"Oil skids as start of US summer driving season fails to lift fuel demand"},"content":{"rendered":"<p>SINGAPORE (Reuters) -Oil prices fell on Thursday as inventory data in the United States, the world&#8217;s top oil consumer, showed a surge in gasoline stocks that indicates weaker-than-expected fuel demand at the start of summer, the country&#8217;s peak season for motoring. <\/p>\n<p>Brent crude oil futures were down 55 cents, or 0.8%, at $71.67 a barrel by 0341 GMT, while U.S. oil futures declined by 53 cents, or 0.8%, at $69.43 a barrel.<\/p>\n<p>&#8220;Markets had been optimistic on demand as the U.S. enters the peak summer driving season,&#8221; analysts from ANZ Research said in a note on Thursday.<\/p>\n<p>&#8220;An acceleration in (coronavirus) vaccinations and rising traffic numbers are a plus for demand for transportation fuel. However, this data highlights it won&#8217;t be a smooth road back to recovery.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) -Oil prices fell on Thursday as inventory data in the United States, the world&#8217;s top oil consumer, showed a surge in gasoline stocks that indicates weaker-than-expected fuel demand at the start of summer, the country&#8217;s peak season for motoring. Brent crude oil futures were down 55 cents, or 0.8%, at $71.67 a barrel by 0341 GMT, while U.S. oil futures declined by 53 cents, or 0.8%, at $69.43 a barrel. &#8220;Markets had been optimistic on demand as the U.S. enters the peak summer driving season,&#8221; analysts from ANZ Research said in a note on Thursday. &#8220;An acceleration in [&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-419788","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\/419788","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=419788"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/419788\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=419788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=419788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=419788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}