{"id":435483,"date":"2021-09-13T08:57:35","date_gmt":"2021-09-13T03:27:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=435483"},"modified":"2021-09-13T10:27:10","modified_gmt":"2021-09-13T04:57:10","slug":"oil-rallies-to-73-on-tight-us-supplies-due-to-ida-biden-xi-call","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-rallies-to-73-on-tight-us-supplies-due-to-ida-biden-xi-call\/","title":{"rendered":"Oil rallies to $73 on tight US supplies due to Ida, Biden-Xi call"},"content":{"rendered":"<p>LONDON (Reuters) -Oil rose to around $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost. <\/p>\n<p>About three quarters of the U.S. Gulf&#8217;s offshore oil production, or about 1.4 million barrels per day, has remained halted since late August. That amount is roughly equal to what OPEC member Nigeria produces.<\/p>\n<p>&#8220;With the restart in offshore crude production lagging, the odds are that the Ida effect will still be felt in the coming weeks,&#8221; said Stephen Brennock of oil broker PVM.<\/p>\n<p>Brent crude rose $1.57, or 2.2%, to $73.02 by 1330 GMT. U.S. West Texas Intermediate (WTI) crude added $1.58, or 2.3%, to $69.72.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) -Oil rose to around $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost. About three quarters of the U.S. Gulf&#8217;s offshore oil production, or about 1.4 million barrels per day, has remained halted since late August. That amount is roughly equal to what OPEC member Nigeria produces. &#8220;With the restart in offshore crude production lagging, the odds are that the Ida effect will still be felt in the coming weeks,&#8221; said Stephen Brennock of oil [&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-435483","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\/435483","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=435483"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/435483\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=435483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=435483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=435483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}