{"id":426862,"date":"2021-07-22T08:29:07","date_gmt":"2021-07-22T02:59:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=426862"},"modified":"2021-07-22T10:15:24","modified_gmt":"2021-07-22T04:45:24","slug":"oil-prices-retreat-on-unexpected-build-up-in-us-crude-inventories","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-retreat-on-unexpected-build-up-in-us-crude-inventories\/","title":{"rendered":"Oil prices retreat on unexpected build-up in US crude inventories"},"content":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand. <\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures dropped 35 cents, or 0.5%, to $66.85 a barrel at 0153 GMT, after rising $1 on Tuesday.<\/p>\n<p>Brent crude futures fell 32 cents, or 0.5%, to $69.03 a barrel, giving up some of Tuesday&#8217;s 1.1% gain.<\/p>\n<p>The market &#8220;has come under a bit of downward pressure in early morning trading today after a bearish and rather surprising inventory report from the API,&#8221; ING Economics analysts said in a note referring to weekly figures from the American Petroleum Institute.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand. U.S. West Texas Intermediate (WTI) crude futures dropped 35 cents, or 0.5%, to $66.85 a barrel at 0153 GMT, after rising $1 on Tuesday. Brent crude futures fell 32 cents, or 0.5%, to $69.03 a barrel, giving up some of Tuesday&#8217;s 1.1% gain. The market &#8220;has come under a bit of downward pressure in early morning trading today after a bearish and rather surprising inventory [&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-426862","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\/426862","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=426862"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/426862\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=426862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=426862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=426862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}