{"id":486870,"date":"2022-04-26T10:12:46","date_gmt":"2022-04-26T04:42:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=486870"},"modified":"2022-04-26T11:30:15","modified_gmt":"2022-04-26T06:00:15","slug":"oil-slides-to-near-2-week-lows-as-shanghai-lockdowns-stoke-demand-worries","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-slides-to-near-2-week-lows-as-shanghai-lockdowns-stoke-demand-worries\/","title":{"rendered":"Oil slides to near 2-week lows as Shanghai lockdowns stoke demand worries"},"content":{"rendered":"<p>Oil prices slumped to near two-week lows on Monday, extending losses from last week, as concerns grew that prolonged Covid-19 lockdowns in Shanghai and potential US rate hikes would hurt global economic growth and fuel demand. <\/p>\n<p>Brent crude futures were down $3.15, or 3.0 per cent, at $103.50 a barrel by 0326 GMT. They touched $103.41 earlier in the session, the lowest since April 12.<\/p>\n<p>US West Texas Intermediate (WTI) crude futures fell $3.01, or 3.0 per cent, to $99.06 a barrel, having skidded earlier to $98.93, the lowest since April 12. <\/p>\n<p>The benchmarks lost nearly 5 per cent last week on demand concerns.<\/p>\n<p>&#8220;Oil is rerating lower due to the China consumption hit while the Federal Reserve is raising interest rates to slow down the US economy,&#8221; SPI Asset Management Managing Director Stephen Innes said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices slumped to near two-week lows on Monday, extending losses from last week, as concerns grew that prolonged Covid-19 lockdowns in Shanghai and potential US rate hikes would hurt global economic growth and fuel demand. Brent crude futures were down $3.15, or 3.0 per cent, at $103.50 a barrel by 0326 GMT. They touched $103.41 earlier in the session, the lowest since April 12. US West Texas Intermediate (WTI) crude futures fell $3.01, or 3.0 per cent, to $99.06 a barrel, having skidded earlier to $98.93, the lowest since April 12. The benchmarks lost nearly 5 per cent last [&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-486870","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\/486870","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=486870"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/486870\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=486870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=486870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=486870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}