{"id":440909,"date":"2021-10-08T09:07:53","date_gmt":"2021-10-08T03:37:53","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=440909"},"modified":"2021-10-08T09:48:05","modified_gmt":"2021-10-08T04:18:05","slug":"oil-climbs-on-switch-from-gas-and-doubts-over-us-releasing-reserves","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-climbs-on-switch-from-gas-and-doubts-over-us-releasing-reserves\/","title":{"rendered":"Oil climbs on switch from gas and doubts over US releasing reserves"},"content":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices rose on Friday, tracking towards a 4.2% gain for the week on signs some industries have begun switching fuel from high priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures climbed by 84 cents, or 1.1%, to $79.14 a barrel at 0122 GMT.<\/p>\n<p>Brent crude futures jumped 80 cents, or 1%, to $82.75 a barrel.<\/p>\n<p>Both contracts rose about 1.1% on Thursday as the market resumed its climb, and were on track to jump 4% this week.<\/p>\n<p>&#8220;Oil prices lifted after the U.S Energy Department said it has no plan &#8216;at this time&#8217; to tap into U.S. strategic oil reserves to cool the rally in oil prices,&#8221; Commonwealth Bank analyst Vivek Dhar said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE (Reuters) &#8211; Oil prices rose on Friday, tracking towards a 4.2% gain for the week on signs some industries have begun switching fuel from high priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now. U.S. West Texas Intermediate (WTI) crude futures climbed by 84 cents, or 1.1%, to $79.14 a barrel at 0122 GMT. Brent crude futures jumped 80 cents, or 1%, to $82.75 a barrel. Both contracts rose about 1.1% on Thursday as the market resumed its climb, and were on track to jump 4% this week. &#8220;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-440909","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\/440909","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=440909"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/440909\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=440909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=440909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=440909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}