{"id":420836,"date":"2021-06-17T08:44:30","date_gmt":"2021-06-17T03:14:30","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=420836"},"modified":"2021-06-17T09:45:30","modified_gmt":"2021-06-17T04:15:30","slug":"oil-prices-hit-new-high-near-75-on-demand-rise-falling-inventories","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-hit-new-high-near-75-on-demand-rise-falling-inventories\/","title":{"rendered":"Oil prices hit new high near $75 on demand rise, falling inventories"},"content":{"rendered":"<p>Oil extended its run of gains on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S. crude inventories.<\/p>\n<p>The American Petroleum Institute reported U.S. crude inventories fell 8.5 million barrels, two market sources said, more than analysts forecast. [API\/S] Official Energy Information Administration figures are out at 1430 GMT. [EIA\/S] <\/p>\n<p>Brent crude was up 29 cents, or 0.4%, at $74.28 a barrel by 0815 GMT, and earlier reached $74.73, the highest since April 2019. U.S. crude gained 32 cents, or 0.4%, to $72.44 and hit $72.83, the highest since October 2018. <\/p>\n<p>&#8220;Demand growth is outpacing supply and will continue to do so over the coming months,&#8221; said Stephen Brennock of oil broker PVM.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil extended its run of gains on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S. crude inventories. The American Petroleum Institute reported U.S. crude inventories fell 8.5 million barrels, two market sources said, more than analysts forecast. [API\/S] Official Energy Information Administration figures are out at 1430 GMT. [EIA\/S] Brent crude was up 29 cents, or 0.4%, at $74.28 a barrel by 0815 GMT, and earlier reached $74.73, the highest since April 2019. U.S. crude gained 32 cents, or 0.4%, to $72.44 [&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-420836","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\/420836","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=420836"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/420836\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=420836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=420836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=420836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}