{"id":534928,"date":"2022-11-07T10:14:27","date_gmt":"2022-11-07T04:44:27","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=534928"},"modified":"2022-11-07T12:06:53","modified_gmt":"2022-11-07T06:36:53","slug":"oil-prices-slide-as-hopes-for-china-demand-rebound-fade","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-slide-as-hopes-for-china-demand-rebound-fade\/","title":{"rendered":"Oil prices slide as hopes for China demand rebound fade"},"content":{"rendered":"<p>Oil prices fell more than $1 a barrel 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 $1.20, or 1.2 per cent, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. US West Texas Intermediate crude was at $91.24 a barrel, down $1.37, or 1.5 per cent, 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>Oil prices fell more than $1 a barrel 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 $1.20, or 1.2 per cent, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. US West Texas Intermediate crude was at $91.24 a barrel, down $1.37, or 1.5 per cent, dropping to a session-low of $90.40 a barrel earlier in the session. &#8220;Oil prices dropped sharply as the Chinese officials vowed to stick [&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":[146,130,177],"tags":[],"class_list":["post-534928","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/534928","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=534928"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/534928\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=534928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=534928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=534928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}