{"id":467387,"date":"2022-02-10T12:36:07","date_gmt":"2022-02-10T07:06:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=467387"},"modified":"2022-02-10T13:19:13","modified_gmt":"2022-02-10T07:49:13","slug":"oil-prices-climb-after-api-data-shows-surprise-drop-in-us-stocks","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-climb-after-api-data-shows-surprise-drop-in-us-stocks\/","title":{"rendered":"Oil prices climb after API data shows surprise drop in US stocks"},"content":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices climbed on Wednesday after two sessions of losses as industry data showed an unexpected drop in U.S. crude and fuel stocks, offsetting concerns of a possible rise in supplies from Iran.<\/p>\n<p>Brent crude futures rose 41 cents, or 0.5%, to $91.19 a barrel by 0422 GMT, while U.S. West Texas Intermediate crude was at $89.74 a barrel, up 38 cents, or 0.4%.<\/p>\n<p>&#8220;Undersupply is the key factor that has pumped up the oil price,&#8221; said Tina Teng, an analyst at CMC Markets.<\/p>\n<p>U.S. crude, gasoline and distillate stocks fell last week, according to market sources citing American Petroleum Institute figures on Tuesday. Crude inventories fell 2 million barrels, according to API, versus analysts&#8217; expectations of a 400,000-barrel increase.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices climbed on Wednesday after two sessions of losses as industry data showed an unexpected drop in U.S. crude and fuel stocks, offsetting concerns of a possible rise in supplies from Iran. Brent crude futures rose 41 cents, or 0.5%, to $91.19 a barrel by 0422 GMT, while U.S. West Texas Intermediate crude was at $89.74 a barrel, up 38 cents, or 0.4%. &#8220;Undersupply is the key factor that has pumped up the oil price,&#8221; said Tina Teng, an analyst at CMC Markets. U.S. crude, gasoline and distillate stocks fell last week, according to market sources [&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-467387","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\/467387","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=467387"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/467387\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=467387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=467387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=467387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}