{"id":475958,"date":"2022-03-16T09:22:12","date_gmt":"2022-03-16T03:52:12","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=475958"},"modified":"2022-03-16T09:38:45","modified_gmt":"2022-03-16T04:08:45","slug":"oil-plunges-over-7-on-easing-supply-concerns-china-covid-cases","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-plunges-over-7-on-easing-supply-concerns-china-covid-cases\/","title":{"rendered":"Oil plunges over 7% on easing supply concerns, China Covid cases"},"content":{"rendered":"<p>Oil prices tumbled more than 7% to their lowest in almost three weeks on Tuesday as supply disruption fears eased and surging COVID-19 cases in China spurred demand concerns.<\/p>\n<p>Brent futures fell $7.89, or 7.4%, to $99.01 a barrel by 11:51 a.m. EDT (1551 GMT), while U.S. West Texas Intermediate (WTI) crude dropped $8.11, or 7.9%, to $94.90 a barrel.<\/p>\n<p>Brent fell as low as $97.44 and WTI hit $93.54, their lowest since Feb. 25.<\/p>\n<p>Both contracts moved the closest to oversold territory since December. They had been in overbought conditions as recently as early March, when the benchmarks reached 14-year highs after Russia&#8217;s invasion of Ukraine. Since then, Brent has lost about $40 and WTI has fallen by more than $30.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices tumbled more than 7% to their lowest in almost three weeks on Tuesday as supply disruption fears eased and surging COVID-19 cases in China spurred demand concerns. Brent futures fell $7.89, or 7.4%, to $99.01 a barrel by 11:51 a.m. EDT (1551 GMT), while U.S. West Texas Intermediate (WTI) crude dropped $8.11, or 7.9%, to $94.90 a barrel. Brent fell as low as $97.44 and WTI hit $93.54, their lowest since Feb. 25. Both contracts moved the closest to oversold territory since December. They had been in overbought conditions as recently as early March, when the benchmarks reached [&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-475958","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\/475958","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=475958"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/475958\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=475958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=475958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=475958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}