{"id":481416,"date":"2022-04-02T08:39:03","date_gmt":"2022-04-02T03:09:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=481416"},"modified":"2022-04-02T09:02:39","modified_gmt":"2022-04-02T03:32:39","slug":"oil-set-for-biggest-weekly-losses-in-2-years-after-oil-stockpile-release","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-set-for-biggest-weekly-losses-in-2-years-after-oil-stockpile-release\/","title":{"rendered":"Oil set for biggest weekly losses in 2 years after oil stockpile release"},"content":{"rendered":"<p>Oil extended losses on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever U.S. oil reserves release.<\/p>\n<p>After U.S. President Joe Biden announced the release on Thursday, prices slumped 7% and both benchmarks were on course for their biggest weekly falls in two years, at 14% and 13% respectively.<\/p>\n<p>Brent crude futures were down 34 cents, or 0.3%, at $104.37 a barrel by 1:18 p.m. EDT (1718 GMT). U.S. West Texas Intermediate (WTI) crude futures were down $1.21, or 1.2%, at $99.07.<\/p>\n<p>Biden announced a release of 1 million barrels per day (bpd) of crude oil for six months from May, which at 180 million barrels is the largest release ever from the U.S. Strategic Petroleum Reserve (SPR).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil extended losses on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever U.S. oil reserves release. After U.S. President Joe Biden announced the release on Thursday, prices slumped 7% and both benchmarks were on course for their biggest weekly falls in two years, at 14% and 13% respectively. Brent crude futures were down 34 cents, or 0.3%, at $104.37 a barrel by 1:18 p.m. EDT (1718 GMT). U.S. West Texas Intermediate (WTI) crude futures were down $1.21, or 1.2%, at $99.07. Biden announced a release of 1 million barrels per day (bpd) of [&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-481416","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\/481416","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=481416"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481416\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=481416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=481416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=481416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}