{"id":515463,"date":"2022-08-20T10:20:09","date_gmt":"2022-08-20T04:50:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=515463"},"modified":"2022-08-20T11:11:08","modified_gmt":"2022-08-20T05:41:08","slug":"oil-higher-on-optimism-for-firmer-crude-demand-post-us-stockpile-drawdown","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-higher-on-optimism-for-firmer-crude-demand-post-us-stockpile-drawdown\/","title":{"rendered":"Oil higher on optimism for firmer crude demand post US stockpile drawdown"},"content":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices edged higher in early trade on Friday, extending a rally into a third day, as investors weighed hopes for strong fuel demand after a larger-than-expected drawdown in U.S. crude stocks, brushing off worries about a global economic slowdown.<\/p>\n<p>Brent crude futures climbed 7 cents, or 0.1%, to $96.66 a barrel by 0030 GMT after settling 3.1% higher on Thursday. U.S. West Texas Intermediate crude was at $90.65 a barrel, up 15 cents, or 0.2%, following a 2.7% increase in the previous session.<\/p>\n<p>Still, the benchmark contracts were headed for weekly losses of about 1.5%. <\/p>\n<p>&#8220;The oil market gained as bullish U.S. weekly data bolstered optimism for improved fuel demand for the near-term,&#8221; said Satoru Yoshida, a commodity analyst with Rakuten Securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO (Reuters) &#8211; Oil prices edged higher in early trade on Friday, extending a rally into a third day, as investors weighed hopes for strong fuel demand after a larger-than-expected drawdown in U.S. crude stocks, brushing off worries about a global economic slowdown. Brent crude futures climbed 7 cents, or 0.1%, to $96.66 a barrel by 0030 GMT after settling 3.1% higher on Thursday. U.S. West Texas Intermediate crude was at $90.65 a barrel, up 15 cents, or 0.2%, following a 2.7% increase in the previous session. Still, the benchmark contracts were headed for weekly losses of about 1.5%. &#8220;The [&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-515463","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\/515463","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=515463"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/515463\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=515463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=515463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=515463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}