{"id":534739,"date":"2022-11-07T09:07:09","date_gmt":"2022-11-07T03:37:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=534739"},"modified":"2022-11-07T09:47:15","modified_gmt":"2022-11-07T04:17:15","slug":"oil-prices-fall-more-than-2-as-china-sticks-to-strict-zero-covid-policy","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-fall-more-than-2-as-china-sticks-to-strict-zero-covid-policy\/","title":{"rendered":"Oil prices fall more than 2% as China sticks to strict zero-Covid policy"},"content":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices fell more than 2% at the start of Asia trade on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world&#8217;s top crude importer. <\/p>\n<p>Brent crude futures dropped $1.58, or 1.6%, to $96.99 a barrel by 2336 GMT, after hitting as low as $96.50 earlier. U.S. West Texas Intermediate crude was at $90.84 a barrel, down $1.77, or 1.9%, dropping to a session-low of $90.40 a barrel earlier in the session. <\/p>\n<p>&#8220;Oil prices dropped sharply as the Chinese officials vowed to stick to the COVID-zero policy while infected cases climbed in China, which may cause more restrictions measures, darkening the demand outlook,&#8221; CMC Markets analyst Tina Teng said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE (Reuters) &#8211; Oil prices fell more than 2% at the start of Asia trade on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world&#8217;s top crude importer. Brent crude futures dropped $1.58, or 1.6%, to $96.99 a barrel by 2336 GMT, after hitting as low as $96.50 earlier. U.S. West Texas Intermediate crude was at $90.84 a barrel, down $1.77, or 1.9%, dropping to a session-low of $90.40 a barrel earlier in the session. &#8220;Oil prices dropped sharply as the Chinese officials [&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-534739","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\/534739","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=534739"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/534739\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=534739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=534739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=534739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}