{"id":503334,"date":"2022-07-06T09:15:30","date_gmt":"2022-07-06T03:45:30","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=503334"},"modified":"2022-07-06T09:28:20","modified_gmt":"2022-07-06T03:58:20","slug":"oil-plummets-below-100-per-barrel-as-recession-risks-come-to-forefront","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-plummets-below-100-per-barrel-as-recession-risks-come-to-forefront\/","title":{"rendered":"Oil plummets below $100 per barrel as recession risks come to forefront"},"content":{"rendered":"<p>Oil futures dropped below $100 a barrel for the first time since May as concerns grow that a global economic slowdown will ultimately hobble demand.<\/p>\n<p>West Texas Intermediate crude futures dropped as much as 9.3% to near $98 a barrel. Oil was pressured in a low liquidity session on Tuesday as equities fell and the dollar surged, making commodities priced in the currency less attractive. Citigroup Inc. said that crude could fall to $65 this year in the event of a recession, a call in stark contrast to JPMorgan Chase &amp; Co.\u2019s most bullish $380 a barrel scenario.<\/p>\n<p>\u201cCrude oil prices have slumped as weakening demand concerns are starting to outweigh fears about tight supply,\u201d said Fawad Razaqzada, market analyst at City Index. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil futures dropped below $100 a barrel for the first time since May as concerns grow that a global economic slowdown will ultimately hobble demand. West Texas Intermediate crude futures dropped as much as 9.3% to near $98 a barrel. Oil was pressured in a low liquidity session on Tuesday as equities fell and the dollar surged, making commodities priced in the currency less attractive. Citigroup Inc. said that crude could fall to $65 this year in the event of a recession, a call in stark contrast to JPMorgan Chase &amp; Co.\u2019s most bullish $380 a barrel scenario. \u201cCrude oil [&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-503334","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\/503334","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=503334"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/503334\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=503334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=503334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=503334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}