{"id":481869,"date":"2022-04-04T10:44:21","date_gmt":"2022-04-04T05:14:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=481869"},"modified":"2022-04-04T10:44:21","modified_gmt":"2022-04-04T05:14:21","slug":"oil-set-for-biggest-weekly-losses-in-2-years-after-stockpile-release","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-set-for-biggest-weekly-losses-in-2-years-after-stockpile-release\/","title":{"rendered":"Oil set for biggest weekly losses in 2 years after stockpile release"},"content":{"rendered":"<p>NEW DELHI: Oil extended losses on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever US oil reserves release.<br \/>\nAfter US 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.<br \/>\nBrent crude futures were down 34 cents, or 0.3%, at $104.37 a barrel by 1:18 pm EDT (1718 GMT). US West Texas Intermediate (WTI) crude futures were down $1.21, or 1.2%, at $99.07.<br \/>\nBiden 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 US Strategic Petroleum Reserve (SPR).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Oil extended losses on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever US oil reserves release. After US 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 pm EDT (1718 GMT). US 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 [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-481869","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481869","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=481869"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481869\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=481869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=481869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=481869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}