{"id":456935,"date":"2021-12-18T09:39:20","date_gmt":"2021-12-18T04:09:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=456935"},"modified":"2021-12-18T10:39:09","modified_gmt":"2021-12-18T05:09:09","slug":"oil-prices-head-for-weekly-loss-on-omicron-coronavirus-uncertainty","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-head-for-weekly-loss-on-omicron-coronavirus-uncertainty\/","title":{"rendered":"Oil prices head for weekly loss on Omicron coronavirus uncertainty"},"content":{"rendered":"<p>SINGAPORE (Reuters) -Oil prices dipped on Friday, putting the market on track for a narrow weekly loss, as surging cases of the Omicron coronavirus variant raised fears new curbs may hit fuel demand, while a weaker dollar supported commodity markets broadly. <\/p>\n<p>Brent crude futures fell 59 cents, or 0.8%, to $74.43 a barrel at 0707 GMT while U.S. West Texas Intermediate (WTI) crude futures dropped 67 cents, or 0.9%, to $71.71 a barrel. Brent is headed for a 1% loss this week, while WTI is poised to finish the week nearly flat.<\/p>\n<p>&#8220;Look at what&#8217;s happening with Omicron &#8211; that&#8217;s a negative which people are trying to digest,&#8221; said Commonwealth Bank commodities analyst Vivek Dhar. &#8220;Are we going to be in line for some new restrictions? That&#8217;s what the market&#8217;s trying digest.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) -Oil prices dipped on Friday, putting the market on track for a narrow weekly loss, as surging cases of the Omicron coronavirus variant raised fears new curbs may hit fuel demand, while a weaker dollar supported commodity markets broadly. Brent crude futures fell 59 cents, or 0.8%, to $74.43 a barrel at 0707 GMT while U.S. West Texas Intermediate (WTI) crude futures dropped 67 cents, or 0.9%, to $71.71 a barrel. Brent is headed for a 1% loss this week, while WTI is poised to finish the week nearly flat. &#8220;Look at what&#8217;s happening with Omicron &#8211; that&#8217;s [&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-456935","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\/456935","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=456935"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/456935\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=456935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=456935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=456935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}