{"id":426672,"date":"2021-07-20T08:56:01","date_gmt":"2021-07-20T03:26:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=426672"},"modified":"2021-07-20T10:08:37","modified_gmt":"2021-07-20T04:38:37","slug":"oil-steadies-after-rout-on-rising-covid-19-cases-opec-supply-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-steadies-after-rout-on-rising-covid-19-cases-opec-supply-deal\/","title":{"rendered":"Oil steadies after rout on rising Covid-19 cases, OPEC+ supply deal"},"content":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices stabilised on Tuesday after slumping around 7% in the previous session amid a broader market retreat led by concerns about a resurgence of COVID-19 infections, which came just as producers inked a new supply deal. <\/p>\n<p>Brent crude gained 38 cents, or 0.6%, to $69.00 a barrel by 0058 GMT. The U.S. crude contract for August delivery, which expires later on Tuesday, was up 49 cents, or 0.7%, at $66.91 a barrel. U.S. crude for September delivery was up around 1% at $66.99 a barrel.<\/p>\n<p>The selloff, which pushed prices to their lowest in two months, &#8220;was largely due to concerns centered on the Delta variant and macro backdrop rather than a significant re-think of forward looking oil fundamentals,&#8221; RBC Capital Markets said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices stabilised on Tuesday after slumping around 7% in the previous session amid a broader market retreat led by concerns about a resurgence of COVID-19 infections, which came just as producers inked a new supply deal. Brent crude gained 38 cents, or 0.6%, to $69.00 a barrel by 0058 GMT. The U.S. crude contract for August delivery, which expires later on Tuesday, was up 49 cents, or 0.7%, at $66.91 a barrel. U.S. crude for September delivery was up around 1% at $66.99 a barrel. The selloff, which pushed prices to their lowest in two months, [&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-426672","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\/426672","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=426672"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/426672\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=426672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=426672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=426672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}