{"id":544134,"date":"2022-12-20T11:36:33","date_gmt":"2022-12-20T06:06:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=544134"},"modified":"2022-12-20T11:36:33","modified_gmt":"2022-12-20T06:06:33","slug":"crude-oil-price-rises-as-us-seeks-to-restock-strategic-petroleum-reserve","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-price-rises-as-us-seeks-to-restock-strategic-petroleum-reserve\/","title":{"rendered":"Crude oil price rises as US seeks to restock Strategic Petroleum Reserve"},"content":{"rendered":"<p>Oil prices rose in early trade on Tuesday, shored up by a weaker dollar and a U.S. plan to restock its Strategic Petroleum Reserve, but gains were limited by uncertainty over the impact of rising COVID-19 cases in China, the world\u2019s top oil importer.<\/p>\n<p>Brent crude futures advanced 61 cents, or 0.8%, to $80.40 a barrel at 0124 GMT, adding to a 76 cent gain in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 65 cents, or 0.9%, to $75.84 barrel, after climbing 90 cents in the previous session.<\/p>\n<p>The market has been supported by the U.S. plan announced last week to buy up to 3 million barrels of oil for the Strategic Petroleum Reserve following this year\u2019s record release of 180 million barrels from the stockpile. A weaker U.S. dollar has also buoyed prices, with the dollar index around 104.7, as it makes oil cheaper for those holding other currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose in early trade on Tuesday, shored up by a weaker dollar and a U.S. plan to restock its Strategic Petroleum Reserve, but gains were limited by uncertainty over the impact of rising COVID-19 cases in China, the world\u2019s top oil importer. Brent crude futures advanced 61 cents, or 0.8%, to $80.40 a barrel at 0124 GMT, adding to a 76 cent gain in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 65 cents, or 0.9%, to $75.84 barrel, after climbing 90 cents in the previous session. The market has been supported by the U.S. [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-544134","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/544134","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=544134"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/544134\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=544134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=544134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=544134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}