{"id":445542,"date":"2021-10-27T08:51:46","date_gmt":"2021-10-27T03:21:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=445542"},"modified":"2021-10-27T10:02:08","modified_gmt":"2021-10-27T04:32:08","slug":"oil-edges-up-to-new-multi-year-highs-on-global-supply-shortage","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-edges-up-to-new-multi-year-highs-on-global-supply-shortage\/","title":{"rendered":"Oil edges up to new multi-year highs on global supply shortage"},"content":{"rendered":"<p>Oil prices edged up to fresh multi-year highs on Tuesday, supported by a global supply shortage and strong demand in the United States, the world&#8217;s biggest consumer.<\/p>\n<p>Brent futures rose 42 cents, or 0.5%, to $86.41 a barrel by 12:14 p.m. EDT (1614 GMT), while U.S. West Texas Intermediate (WTI) crude rose 95 cents, or 1.1%, to $84.71.<\/p>\n<p>That puts both global benchmarks on track for their highest closes since October 2014.<\/p>\n<p>&#8220;The energy crunch is still nowhere close to subsiding, so we expect prevailing strength in oil prices in November and December as supply lags demand and as OPEC+ stays on the sidelines,&#8221; said Louise Dickson, senior oil markets analyst at Rystad Energy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged up to fresh multi-year highs on Tuesday, supported by a global supply shortage and strong demand in the United States, the world&#8217;s biggest consumer. Brent futures rose 42 cents, or 0.5%, to $86.41 a barrel by 12:14 p.m. EDT (1614 GMT), while U.S. West Texas Intermediate (WTI) crude rose 95 cents, or 1.1%, to $84.71. That puts both global benchmarks on track for their highest closes since October 2014. &#8220;The energy crunch is still nowhere close to subsiding, so we expect prevailing strength in oil prices in November and December as supply lags demand and as OPEC+ [&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-445542","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\/445542","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=445542"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/445542\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=445542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=445542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=445542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}