{"id":4278,"date":"2015-01-09T06:50:00","date_gmt":"2015-01-09T11:50:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4278"},"modified":"2015-01-09T06:50:00","modified_gmt":"2015-01-09T11:50:00","slug":"oil-heads-for-seventh-weekly-loss-as-supply-glut-drags","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4278","title":{"rendered":"Oil heads for seventh weekly loss as supply glut drags"},"content":{"rendered":"<h3><a href=\"http:\/\/www.reuters.com\/article\/2015\/01\/09\/us-markets-oil-idUSKBN0KI08D20150109\" target=\"_blank\">Oil heads for seventh weekly loss as supply glut drags<\/a><\/h3>\n<p>(Reuters) &#8211; Oil prices headed for a seventh straight weekly loss on Friday, with key producers showing no sign of cutting output in the face of a global supply glut.<\/p>\n<p>Global oil benchmarks hit their lowest since 2009 this week and are down more than 50 percent from June levels, with\u00a0<a class=\"vglnk\" href=\"http:\/\/bit.ly\/1svUBlX\" rel=\"nofollow\">Brentcrude<\/a>\u00a0futures LCOc1 extending declines on Friday, dropping 50 cents a barrel to $50.46 by 0427 ET.<\/p>\n<p>U.S. crude\u00a0futures for February delivery CLc1 were down 12 cents at $48.67 a barrel despite robust U.S. economic data that brightened the outlook for demand.<\/p>\n<p>Brent&#8217;s premium to\u00a0U.S. crude\u00a0CL-LCO1=R fell near $1.80 a barrel, the narrowest since October as international seaborne oil markets appear to be under even more pressure than the U.S. domestic market.<\/p>\n<p>&#8220;It is another negative week and a reflection of the focus on negative arguments,&#8221; said Hans Van Cleef, senior energy economist at Dutch bank ABN Amro.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil heads for seventh weekly loss as supply glut drags (Reuters) &#8211; Oil prices headed for a seventh straight weekly loss on Friday, with key producers showing no sign of cutting output in the face of a global supply glut. Global oil benchmarks hit their lowest since 2009 this week and are down more than [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[589,1775,595,596,600,1358],"class_list":["post-4278","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-price-collapse","tag-oil-production","tag-oil-supply","tag-opec","tag-us-shale"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4278"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4278\/revisions"}],"predecessor-version":[{"id":4279,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4278\/revisions\/4279"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}