{"id":502334,"date":"2022-07-02T09:30:57","date_gmt":"2022-07-02T04:00:57","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=502334"},"modified":"2022-07-02T09:49:29","modified_gmt":"2022-07-02T04:19:29","slug":"oil-prices-fall-on-recession-fears-on-track-for-third-weekly-loss","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-fall-on-recession-fears-on-track-for-third-weekly-loss\/","title":{"rendered":"Oil prices fall on recession fears, on track for third weekly loss"},"content":{"rendered":"<p>Oil prices fell on Friday, extending the previous day&#8217;s plunge, as lingering fears of a recession weighed on sentiment, putting the benchmarks on track for their third straight weekly losses.<\/p>\n<p>Brent crude futures were down 43 cents, or 0.4%, at $108.60 a barrel by 0653 GMT, giving up earlier gains of more than $1.<\/p>\n<p>WTI crude futures for August delivery slid 60 cents, or 0.6%, to $105.16 a barrel, also surrendering an early gain of nearly $1.<\/p>\n<p>Both contracts fell around 3% on Thursday.<\/p>\n<p>&#8220;Earlier in the session, the market took a breather from Thursday&#8217;s sell-off as the OPEC+ gave no surprise, saying it would stick to its planned oil output hikes in August,&#8221; said Tsuyoshi Ueno, senior economist at NLI Research Institute.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell on Friday, extending the previous day&#8217;s plunge, as lingering fears of a recession weighed on sentiment, putting the benchmarks on track for their third straight weekly losses. Brent crude futures were down 43 cents, or 0.4%, at $108.60 a barrel by 0653 GMT, giving up earlier gains of more than $1. WTI crude futures for August delivery slid 60 cents, or 0.6%, to $105.16 a barrel, also surrendering an early gain of nearly $1. Both contracts fell around 3% on Thursday. &#8220;Earlier in the session, the market took a breather from Thursday&#8217;s sell-off as the OPEC+ gave [&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-502334","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\/502334","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=502334"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/502334\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=502334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=502334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=502334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}