{"id":483931,"date":"2022-04-12T10:14:31","date_gmt":"2022-04-12T04:44:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=483931"},"modified":"2022-04-12T11:33:23","modified_gmt":"2022-04-12T06:03:23","slug":"oil-opens-higher-as-opec-warns-of-tight-supply-and-russian-sanctions-loom-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-opens-higher-as-opec-warns-of-tight-supply-and-russian-sanctions-loom-2\/","title":{"rendered":"Oil opens higher as OPEC warns of tight supply and Russian sanctions loom"},"content":{"rendered":"<p>Oil futures rose early on Tuesday, reversing sharp losses from the prior day, as the market weighed the potential for more sanctions on Russia&#8217;s energy sector and OPEC warned it would be impossible to increase output enough to offset lost supply. <\/p>\n<p>Brent crude futures were up 85 cents, 0.9%, to $99.33 a barrel, and US West Texas Intermediate contracts were up $1.04, or 1.1%, to $95.33 a barrel at 0019 GMT.<\/p>\n<p>Both contracts had settled down around 4% on Monday amid concerns that coronavirus lockdowns in China would dampen demand for fuel and ahead of a massive oil reserve released by International Energy Agency (IEA) members. <\/p>\n<p>The European Union is drafting proposals for an EU oil embargo on Russia in the wake of its invasion of Ukraine, some foreign ministers said on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil futures rose early on Tuesday, reversing sharp losses from the prior day, as the market weighed the potential for more sanctions on Russia&#8217;s energy sector and OPEC warned it would be impossible to increase output enough to offset lost supply. Brent crude futures were up 85 cents, 0.9%, to $99.33 a barrel, and US West Texas Intermediate contracts were up $1.04, or 1.1%, to $95.33 a barrel at 0019 GMT. Both contracts had settled down around 4% on Monday amid concerns that coronavirus lockdowns in China would dampen demand for fuel and ahead of a massive oil reserve released [&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":[146,130,177],"tags":[],"class_list":["post-483931","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483931","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=483931"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483931\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=483931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=483931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=483931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}