{"id":578137,"date":"2023-05-20T11:35:59","date_gmt":"2023-05-20T06:05:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=578137"},"modified":"2023-05-20T13:12:49","modified_gmt":"2023-05-20T07:42:49","slug":"oil-edges-lower-as-debt-talks-pause-fed-warns-of-high-inflation","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-edges-lower-as-debt-talks-pause-fed-warns-of-high-inflation\/","title":{"rendered":"Oil edges lower as debt talks pause, Fed warns of high inflation"},"content":{"rendered":"<p>Oil prices reversed course to trade lower on Friday after reports that the debt ceiling talks between the White House and House Republicans have been paused, worrying markets of a possible default that could cut demand.<\/p>\n<p>Brent futures fell 9 cents, or 0.1%, to $75.77 a barrel by 11:55 a.m. ET (3:55 GMT), while West Texas Intermediate U.S. crude for July expiry eased 22 cents, or 0.3%, to $71.74.<\/p>\n<p>The less active U.S. crude contract for May, which is due to expire on Monday, eased 20 cents, or 0.3%, to $71.77.<\/p>\n<p>Markets were also spooked by Federal Reserve Chair Jerome Powell&#8217;s comments that inflation was &#8220;far above&#8221; the Fed&#8217;s objective.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices reversed course to trade lower on Friday after reports that the debt ceiling talks between the White House and House Republicans have been paused, worrying markets of a possible default that could cut demand. Brent futures fell 9 cents, or 0.1%, to $75.77 a barrel by 11:55 a.m. ET (3:55 GMT), while West Texas Intermediate U.S. crude for July expiry eased 22 cents, or 0.3%, to $71.74. The less active U.S. crude contract for May, which is due to expire on Monday, eased 20 cents, or 0.3%, to $71.77. Markets were also spooked by Federal Reserve Chair Jerome [&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":[130,191,136],"tags":[],"class_list":["post-578137","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/578137","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=578137"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/578137\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=578137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=578137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=578137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}