{"id":481428,"date":"2022-04-02T08:40:46","date_gmt":"2022-04-02T03:10:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=481428"},"modified":"2022-04-02T09:03:18","modified_gmt":"2022-04-02T03:33:18","slug":"oil-benchmarks-on-course-for-biggest-weekly-losses-in-2-years","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-benchmarks-on-course-for-biggest-weekly-losses-in-2-years\/","title":{"rendered":"Oil benchmarks on course for biggest weekly losses in 2 years"},"content":{"rendered":"<p>LONDON (Reuters) &#8211; Oil prices dipped in and out of negative territory on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a huge planned release by the United States.<\/p>\n<p>The benchmark Brent and WTI contracts were both on course for their biggest weekly falls in two years at 13% and 12%, respectively.<\/p>\n<p>Brent crude futures were down 6 cents, or 0.1%, to $104.65 a barrel by 1055 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 37 cents, or 0.4%, at $99.91.<\/p>\n<p>On Thursday, U.S. President Joe Biden announced a release of 1 million barrels per day (bpd) for six months, starting in May, the largest release ever from the U.S. Strategic Petroleum Reserve (SPR).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; Oil prices dipped in and out of negative territory on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a huge planned release by the United States. The benchmark Brent and WTI contracts were both on course for their biggest weekly falls in two years at 13% and 12%, respectively. Brent crude futures were down 6 cents, or 0.1%, to $104.65 a barrel by 1055 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 37 cents, or 0.4%, at $99.91. On Thursday, U.S. [&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-481428","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\/481428","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=481428"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481428\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=481428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=481428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=481428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}