{"id":429861,"date":"2021-08-10T08:38:42","date_gmt":"2021-08-10T03:08:42","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=429861"},"modified":"2021-08-10T09:39:50","modified_gmt":"2021-08-10T04:09:50","slug":"oil-slides-on-chinas-travel-curbs-amid-covid-19-strengthening-us-dollar","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-slides-on-chinas-travel-curbs-amid-covid-19-strengthening-us-dollar\/","title":{"rendered":"Oil slides on China&#8217;s travel curbs amid Covid-19, strengthening US dollar"},"content":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices fell nearly 2% on Monday, extending last week&#8217;s steep losses on the back of a rising U.S. dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand. <\/p>\n<p>Brent crude futures slid by $1.27, or 1.8%, to $69.43 a barrel by 0434 GMT, after having slumped 6% last week, their biggest weekly loss in four months.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures fell $1.29, or 1.9%, to $66.99 a barrel, after having slumped nearly 7% last week in their steepest weekly decline in nine months.<\/p>\n<p>&#8220;Concerns about potential global oil demand erosion have resurfaced with the acceleration of the Delta variant infection rate,&#8221; RBC analyst Gordon Ramsay said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices fell nearly 2% on Monday, extending last week&#8217;s steep losses on the back of a rising U.S. dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand. Brent crude futures slid by $1.27, or 1.8%, to $69.43 a barrel by 0434 GMT, after having slumped 6% last week, their biggest weekly loss in four months. U.S. West Texas Intermediate (WTI) crude futures fell $1.29, or 1.9%, to $66.99 a barrel, after having slumped nearly 7% last week in their steepest weekly decline in nine 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-429861","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\/429861","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=429861"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/429861\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=429861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=429861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=429861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}