{"id":444470,"date":"2021-10-23T09:00:23","date_gmt":"2021-10-23T03:30:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=444470"},"modified":"2021-10-23T09:34:42","modified_gmt":"2021-10-23T04:04:42","slug":"oil-cools-off-highs-as-leaders-comments-reignite-covid-19-fears","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-cools-off-highs-as-leaders-comments-reignite-covid-19-fears\/","title":{"rendered":"Oil cools off highs as leaders&#8217; comments reignite Covid-19 fears"},"content":{"rendered":"<p>Oil traded just below multi-year highs on Friday as Germany&#8217;s chancellor and the US Federal Reserve chairman said that demand disruptions from Covid-19 may not be over.<\/p>\n<p>Brent crude futures rose 76 cents, or 0.89%, to $85.36 a barrel at 2:14 p.m. EST (1714 GMT) after Thursday&#8217;s three-year high of $86.10. The benchmark is set for its seventh weekly gain.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures gained $1.13, or 1.4%, to reach $83.63 a barrel, not far off a seven-year high hit this week. The grade is heading for its ninth weekly rise. <\/p>\n<p>&#8220;Supply is still very, very tight, the market is just cautious about the possibility of an uptick in COVID cases in Russia, China and now Germany,&#8221; said Phil Flynn, senior analyst at Price Futures Group in Chicago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil traded just below multi-year highs on Friday as Germany&#8217;s chancellor and the US Federal Reserve chairman said that demand disruptions from Covid-19 may not be over. Brent crude futures rose 76 cents, or 0.89%, to $85.36 a barrel at 2:14 p.m. EST (1714 GMT) after Thursday&#8217;s three-year high of $86.10. The benchmark is set for its seventh weekly gain. U.S. West Texas Intermediate (WTI) crude futures gained $1.13, or 1.4%, to reach $83.63 a barrel, not far off a seven-year high hit this week. The grade is heading for its ninth weekly rise. &#8220;Supply is still very, very tight, [&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-444470","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\/444470","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=444470"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/444470\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=444470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=444470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=444470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}