{"id":609329,"date":"2023-10-10T09:54:10","date_gmt":"2023-10-10T04:24:10","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=609329"},"modified":"2023-10-10T10:26:23","modified_gmt":"2023-10-10T04:56:23","slug":"oil-prices-surges-more-than-2-as-middle-east-turmoil-roils-markets","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-surges-more-than-2-as-middle-east-turmoil-roils-markets\/","title":{"rendered":"Oil prices surges more than 2% as Middle East turmoil roils markets"},"content":{"rendered":"<p>Oil prices surged more than 2% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. <\/p>\n<p>Brent crude was up $2.28, or 2.7%, to $86.86 a barrel by 0859 GMT, while U.S. West Texas Intermediate crude was at $85.23 a barrel, up $2.44 or nearly 3%. Both benchmarks spiked by more than $4 a barrel earlier in the session. <\/p>\n<p>The surge in oil prices reversed last week&#8217;s downtrend &#8211; the largest weekly decline since March &#8211; in which Brent fell about 11% and WTI retreated more than 8% as a darkening macroeconomic outlook intensified concerns about global demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices surged more than 2% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. Brent crude was up $2.28, or 2.7%, to $86.86 a barrel by 0859 GMT, while U.S. West Texas Intermediate crude was at $85.23 a barrel, up $2.44 or nearly 3%. Both benchmarks spiked by more than $4 a barrel earlier in the session. The surge in oil prices reversed last week&#8217;s downtrend &#8211; the largest weekly decline since March &#8211; in which Brent fell about 11% and WTI retreated more than [&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-609329","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\/609329","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=609329"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/609329\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=609329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=609329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=609329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}