{"id":491619,"date":"2022-05-13T10:59:10","date_gmt":"2022-05-13T05:29:10","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=491619"},"modified":"2022-05-13T12:24:03","modified_gmt":"2022-05-13T06:54:03","slug":"oil-climbs-even-as-weaker-demand-concerns-cap-gains","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-climbs-even-as-weaker-demand-concerns-cap-gains\/","title":{"rendered":"Oil climbs even as weaker demand concerns cap gains"},"content":{"rendered":"<p>MELBOURNE: Oil prices firmed in early trade on Friday but were headed for their first weekly losses in three weeks as worries about inflation and China&#8217;s COVID lockdowns slowing global growth outweighed concerns about dwindling fuel supply from Russia.<\/p>\n<p>Brent crude futures were up 97 cents, or 0.9%, at $108.42 a barrel at 0008 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $1.00, or 0.9%, to $107.13 a barrel.<\/p>\n<p>Both benchmark contracts were, however, on track to post declines for the week, with Brent set to drop more than 3% and WTI more than 2%.<\/p>\n<p>The market is continuing to be pushed and pulled by the prospect of a European Union ban on Russian oil sapping supply and concerns about demand being dented by weaker global growth, inflation and China&#8217;s COVID curbs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE: Oil prices firmed in early trade on Friday but were headed for their first weekly losses in three weeks as worries about inflation and China&#8217;s COVID lockdowns slowing global growth outweighed concerns about dwindling fuel supply from Russia. Brent crude futures were up 97 cents, or 0.9%, at $108.42 a barrel at 0008 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $1.00, or 0.9%, to $107.13 a barrel. Both benchmark contracts were, however, on track to post declines for the week, with Brent set to drop more than 3% and WTI more than 2%. The market is [&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":[130,191,136],"tags":[],"class_list":["post-491619","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/491619","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=491619"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/491619\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=491619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=491619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=491619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}