{"id":427385,"date":"2021-07-26T08:34:18","date_gmt":"2021-07-26T03:04:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=427385"},"modified":"2021-07-26T09:17:52","modified_gmt":"2021-07-26T03:47:52","slug":"oil-prices-little-changed-coronavirus-floods-threaten-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-little-changed-coronavirus-floods-threaten-demand\/","title":{"rendered":"Oil prices little changed, coronavirus, floods threaten demand"},"content":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices were little changed on Monday as investors balanced concerns about fuel demand from the spread of COVID-19 variants and floods in China against expectations of tight supplies through the rest of the year. <\/p>\n<p>Brent crude futures for September fell 3 cents to $74.07 a barrel by 0153 GMT while U.S. Texas Intermediate crude was at $71.99 a barrel, down 8 cents.<\/p>\n<p>Both contracts recovered from a 7% slump last Monday and marked their first gains in 2-3 weeks last week as investors bet demand would stay strong amid falling oil stockpiles and rising vaccination rates.<\/p>\n<p>&#8220;We saw an over reaction in the market last Monday, and like all other technical corrections so far oil&#8217;s downturn has typically proven short lived,&#8221; Howie Lee, an economist at Singapore&#8217;s OCBC Bank said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices were little changed on Monday as investors balanced concerns about fuel demand from the spread of COVID-19 variants and floods in China against expectations of tight supplies through the rest of the year. Brent crude futures for September fell 3 cents to $74.07 a barrel by 0153 GMT while U.S. Texas Intermediate crude was at $71.99 a barrel, down 8 cents. Both contracts recovered from a 7% slump last Monday and marked their first gains in 2-3 weeks last week as investors bet demand would stay strong amid falling oil stockpiles and rising vaccination rates. [&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-427385","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\/427385","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=427385"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/427385\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=427385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=427385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=427385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}