{"id":462315,"date":"2022-01-18T09:10:31","date_gmt":"2022-01-18T03:40:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=462315"},"modified":"2022-01-18T09:43:41","modified_gmt":"2022-01-18T04:13:41","slug":"crude-oil-prices-steady-as-rising-libyan-output-offsets-supply-worries","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-prices-steady-as-rising-libyan-output-offsets-supply-worries\/","title":{"rendered":"Crude oil prices steady as rising Libyan output offsets supply worries"},"content":{"rendered":"<p>LONDON (Reuters) -Oil prices were steady on Monday, as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output. <\/p>\n<p>Brent crude was down 4 cents, or 0.1%, to $86.02 a barrel by 0953 GMT. Earlier in the session, the contract touched its highest since Oct. 3, 2018 at $86.71.<\/p>\n<p>U.S. West Texas Intermediate crude was up 20 cents, or 0.2%, at $84.02 a barrel, after hitting $84.78, the highest since Nov. 10, 2021, earlier in the session.<\/p>\n<p>Frantic oil buying, driven by supply outages and signs the Omicron variant of COVID-19 will not be as disruptive as feared for fuel demand, has pushed some crude grades to multi-year highs, suggesting the rally in Brent futures could be sustained a while longer, traders said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) -Oil prices were steady on Monday, as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output. Brent crude was down 4 cents, or 0.1%, to $86.02 a barrel by 0953 GMT. Earlier in the session, the contract touched its highest since Oct. 3, 2018 at $86.71. U.S. West Texas Intermediate crude was up 20 cents, or 0.2%, at $84.02 a barrel, after hitting $84.78, the highest since Nov. 10, 2021, earlier in the session. Frantic oil buying, driven by supply outages and signs the Omicron variant [&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-462315","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\/462315","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=462315"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/462315\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=462315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=462315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=462315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}