{"id":581091,"date":"2023-06-01T12:15:51","date_gmt":"2023-06-01T06:45:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=581091"},"modified":"2023-06-01T12:19:54","modified_gmt":"2023-06-01T06:49:54","slug":"crude-oil-edges-up-after-steep-losses-ahead-of-us-debt-ceiling-vote","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-edges-up-after-steep-losses-ahead-of-us-debt-ceiling-vote\/","title":{"rendered":"Crude oil edges up after steep losses ahead of US debt ceiling vote"},"content":{"rendered":"<p>Oil prices edged up on Wednesday after steep losses in the prior session, as market participants awaited an expected vote on a bipartisan deal to lift the $31.4 trillion U.S. debt ceiling. Brent crude futures for August delivery rose 11 cents to $73.82 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude (WTI) gained 8 cents to $69.54 a barrel. Both fell more than 4% on Tuesday.<\/p>\n<p>Brent\u2019s July contract, which expires on Wednesday, and the U.S. benchmark were on track for monthly declines of more than 7% and 9%, respectively. Top congressional Republican Kevin McCarthy on Tuesday urged members of his party to support the deal even as he faced a direct challenge from some, which weighed on oil prices during the previous session. Still, a key party hardliner said he would likely support the measure in a critical procedural vote, which would allow it to clear a pivotal House of Representatives Rules Committee with a Republican majority. The committee was due to vote later on whether to advance the 99-page bill.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged up on Wednesday after steep losses in the prior session, as market participants awaited an expected vote on a bipartisan deal to lift the $31.4 trillion U.S. debt ceiling. Brent crude futures for August delivery rose 11 cents to $73.82 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude (WTI) gained 8 cents to $69.54 a barrel. Both fell more than 4% on Tuesday. Brent\u2019s July contract, which expires on Wednesday, and the U.S. benchmark were on track for monthly declines of more than 7% and 9%, respectively. Top congressional Republican Kevin McCarthy on Tuesday [&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-581091","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\/581091","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=581091"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/581091\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=581091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=581091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=581091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}