{"id":466347,"date":"2022-02-05T09:46:18","date_gmt":"2022-02-05T04:16:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=466347"},"modified":"2022-02-05T10:05:56","modified_gmt":"2022-02-05T04:35:56","slug":"oil-hits-seven-year-highs-as-us-storm-heightens-supply-concerns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-hits-seven-year-highs-as-us-storm-heightens-supply-concerns\/","title":{"rendered":"Oil hits seven-year highs as US storm heightens supply concerns"},"content":{"rendered":"<p>Oil prices reached seven-year highs on Friday as geopolitical tensions and a winter storm in the United States fuelled concerns over supply disruptions.<\/p>\n<p>Brent crude rose $1.32, or 1.5%, to $92.43 a barrel by 1120 GMT, having earlier touched its highest since October 2014 at $92.66.<\/p>\n<p>U.S. West Texas Intermediate crude rose $1.45, or 1.6%, to $91.72 a barrel after also scaling a seven-year peak at $91.91.<\/p>\n<p>Both benchmarks were on course for a seventh consecutive weekly gain.<\/p>\n<p>&#8220;The latest upswing was triggered by a cold snap in Texas, which is fuelling concerns about production outages in the Permian Basin, the largest U.S. shale play,&#8221; said Commerzbank commodities analyst Carsten Fritsch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices reached seven-year highs on Friday as geopolitical tensions and a winter storm in the United States fuelled concerns over supply disruptions. Brent crude rose $1.32, or 1.5%, to $92.43 a barrel by 1120 GMT, having earlier touched its highest since October 2014 at $92.66. U.S. West Texas Intermediate crude rose $1.45, or 1.6%, to $91.72 a barrel after also scaling a seven-year peak at $91.91. Both benchmarks were on course for a seventh consecutive weekly gain. &#8220;The latest upswing was triggered by a cold snap in Texas, which is fuelling concerns about production outages in the Permian Basin, [&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-466347","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\/466347","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=466347"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/466347\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=466347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=466347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=466347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}