{"id":420840,"date":"2021-06-17T08:46:24","date_gmt":"2021-06-17T03:16:24","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=420840"},"modified":"2021-06-17T09:46:37","modified_gmt":"2021-06-17T04:16:37","slug":"brent-gains-for-fifth-day-as-demand-outlook-improves-stocks-fall","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/brent-gains-for-fifth-day-as-demand-outlook-improves-stocks-fall\/","title":{"rendered":"Brent gains for fifth day as demand outlook improves, stocks fall"},"content":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices rose nearly 1% on Wednesday, with Brent gaining for a fifth consecutive session, as falling stockpiles and a recovery in demand kept the main benchmarks at multi-year highs. <\/p>\n<p>Brent crude was up 66 cents, or 0.9%, at $74.65 a barrel by 0445 GMT, the highest since April 2019.<\/p>\n<p>U.S. crude gained 58 cents, or 0.8%, to $72.70 a barrel, the highest since October 2018.<\/p>\n<p>&#8220;Even non-energy traders are placing bets that oil prices will continue to rise,&#8221; said Edward Moya, senior market analyst at OANDA.<\/p>\n<p>&#8220;Everyone is turning overly bullish with crude prices. The crude demand outlook is very robust as recoveries across the US, Europe and Asia, will have demand return to pre-COVID levels in the second half of next year,&#8221; Moya said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices rose nearly 1% on Wednesday, with Brent gaining for a fifth consecutive session, as falling stockpiles and a recovery in demand kept the main benchmarks at multi-year highs. Brent crude was up 66 cents, or 0.9%, at $74.65 a barrel by 0445 GMT, the highest since April 2019. U.S. crude gained 58 cents, or 0.8%, to $72.70 a barrel, the highest since October 2018. &#8220;Even non-energy traders are placing bets that oil prices will continue to rise,&#8221; said Edward Moya, senior market analyst at OANDA. &#8220;Everyone is turning overly bullish with crude prices. The crude [&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-420840","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\/420840","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=420840"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/420840\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=420840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=420840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=420840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}