{"id":446034,"date":"2021-10-29T08:36:34","date_gmt":"2021-10-29T03:06:34","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=446034"},"modified":"2021-10-29T09:27:00","modified_gmt":"2021-10-29T03:57:00","slug":"oil-plunges-to-2-week-low-on-us-inventory-shock-rise-in-covid-19-cases","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-plunges-to-2-week-low-on-us-inventory-shock-rise-in-covid-19-cases\/","title":{"rendered":"Oil plunges to 2-week low on US inventory shock, rise in Covid-19 cases"},"content":{"rendered":"<p>Oil prices slumped to their lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude, and rising cases of COVID-19 in Europe, Russia, and some outbreaks of infections in China dented hopes for an economic recovery.<\/p>\n<p>Brent crude dropped 94 cents, or 1.1%, to $83.64 a barrel by 0655 GMT, having hit a two-week low of $82.32 earlier and fallen by 2.1% in the previous session.<\/p>\n<p>U.S. oil was down 89 cents, also a 1.1% drop, at $81.77 a barrel &#8211; a one-week low after dropping 2.4% on Wednesday.<\/p>\n<p>Outbreaks of coronavirus infections in China and record deaths and the threat of lockdowns in Russia, along with rising cases in western Europe were putting the brakes on a multi-week rally in oil prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices slumped to their lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude, and rising cases of COVID-19 in Europe, Russia, and some outbreaks of infections in China dented hopes for an economic recovery. Brent crude dropped 94 cents, or 1.1%, to $83.64 a barrel by 0655 GMT, having hit a two-week low of $82.32 earlier and fallen by 2.1% in the previous session. U.S. oil was down 89 cents, also a 1.1% drop, at $81.77 a barrel &#8211; a one-week low after dropping 2.4% on Wednesday. Outbreaks of coronavirus infections in [&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-446034","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\/446034","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=446034"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/446034\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=446034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=446034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=446034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}