{"id":506608,"date":"2022-07-19T09:45:09","date_gmt":"2022-07-19T04:15:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=506608"},"modified":"2022-07-19T10:59:22","modified_gmt":"2022-07-19T05:29:22","slug":"oil-jumps-2-as-soft-dollar-and-tight-supply-offset-recession-concerns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-jumps-2-as-soft-dollar-and-tight-supply-offset-recession-concerns\/","title":{"rendered":"Oil jumps 2% as soft dollar and tight supply offset recession concerns"},"content":{"rendered":"<p>LONDON (Reuters) -Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand.<\/p>\n<p>Brent crude futures for September settlement rose $2.44, or 2.4%, to $103.60 a barrel by 0900 GMT, having advanced by 2.1% on Friday.<\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures for August delivery gained $2.17, or 2.2%, to $99.76 after rising by 1.9% in the previous session.<\/p>\n<p>The U.S. dollar retreated from multi-year highs on Monday, supporting prices of commodities ranging from gold to oil. A weaker dollar makes dollar-denominated commodities more affordable for holders of other currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) -Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose $2.44, or 2.4%, to $103.60 a barrel by 0900 GMT, having advanced by 2.1% on Friday. U.S. West Texas Intermediate (WTI) crude futures for August delivery gained $2.17, or 2.2%, to $99.76 after rising by 1.9% in the previous session. The U.S. dollar retreated from multi-year highs on Monday, supporting prices of commodities ranging from gold to 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-506608","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\/506608","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=506608"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/506608\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=506608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=506608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=506608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}