{"id":426947,"date":"2021-07-22T10:46:17","date_gmt":"2021-07-22T05:16:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=426947"},"modified":"2021-07-22T13:19:45","modified_gmt":"2021-07-22T07:49:45","slug":"oil-retreats-on-surprise-rise-in-us-crude-stocks","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-retreats-on-surprise-rise-in-us-crude-stocks\/","title":{"rendered":"Oil retreats on surprise rise in US crude stocks"},"content":{"rendered":"<p>MELBOURNE: 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: 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 report from [&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":[130,191,136],"tags":[],"class_list":["post-426947","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/426947","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=426947"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/426947\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=426947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=426947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=426947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}