{"id":455395,"date":"2021-12-10T08:57:43","date_gmt":"2021-12-10T03:27:43","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=455395"},"modified":"2021-12-10T10:47:06","modified_gmt":"2021-12-10T05:17:06","slug":"oil-down-as-china-developer-downgrades-add-to-fears-of-demand-outlook","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-down-as-china-developer-downgrades-add-to-fears-of-demand-outlook\/","title":{"rendered":"Oil down as China developer downgrades add to fears of demand outlook"},"content":{"rendered":"<p>(Reuters) &#8211; Oil prices fell on Thursday on fears about the economic outlook in the world&#8217;s biggest oil importer following ratings downgrades to two Chinese property developers, and after some governments took measures to fight the Omicron varaint of the coronavirus. <\/p>\n<p>Brent crude futures fell $1.01, or 1.3%, to $74.81 a barrel by 12:05 p.m. EDT (1705 GMT), backing off a session high of $76.70. U.S. West Texas Intermediate (WTI) crude futures were down $1.00, or 1.4%, at $71.36 after hitting a peak of $73.34.<\/p>\n<p>On Thursday, ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group to &#8220;restricted default&#8221; status, saying they had defaulted on offshore bonds, while a source said that Kaisa had started work on restructuring its $12 billion offshore debt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; Oil prices fell on Thursday on fears about the economic outlook in the world&#8217;s biggest oil importer following ratings downgrades to two Chinese property developers, and after some governments took measures to fight the Omicron varaint of the coronavirus. Brent crude futures fell $1.01, or 1.3%, to $74.81 a barrel by 12:05 p.m. EDT (1705 GMT), backing off a session high of $76.70. U.S. West Texas Intermediate (WTI) crude futures were down $1.00, or 1.4%, at $71.36 after hitting a peak of $73.34. On Thursday, ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group to [&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-455395","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\/455395","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=455395"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/455395\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=455395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=455395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=455395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}