{"id":108559,"date":"2017-07-27T20:51:25","date_gmt":"2017-07-28T00:51:25","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=108559"},"modified":"2017-07-27T20:51:25","modified_gmt":"2017-07-28T00:51:25","slug":"oil-prices-soar-on-falling-us-inventories","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/07\/27\/oil-prices-soar-on-falling-us-inventories\/","title":{"rendered":"Oil prices soar on falling US inventories"},"content":{"rendered":"<figure id=\"attachment_108284\" aria-describedby=\"caption-attachment-108284\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/pumping-gas-1631634_960_720.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-108284\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/pumping-gas-1631634_960_720-300x201.jpg\" alt=\"crude stocks fell sharply by 7.2 million barrels last week to 483.4 million (Pixabay Photo, CC0)\" width=\"300\" height=\"201\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/pumping-gas-1631634_960_720-300x201.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/pumping-gas-1631634_960_720-768x514.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/07\/pumping-gas-1631634_960_720.jpg 960w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-108284\" class=\"wp-caption-text\">File: crude stocks fell sharply by 7.2 million barrels last week to 483.4 million (<a href=\"https:\/\/pixabay.com\/en\/pumping-gas-fuel-pump-industry-gas-1631634\/\">Pixabay Photo<\/a>, CC0)<\/figcaption><\/figure>\n<p>NEW YORK, July 28\u2014 \u00a0Oil prices climbed for a consecutive fourth session on Thursday amid falling US inventories.<\/p>\n<p>US crude stocks fell sharply by 7.2 million barrels last week to 483.4 million, more than the expected decrease of 2.6 million barrels and 1.4 percent below the level a year ago, according to the weekly report by the Energy Information Administration on Wednesday.<\/p>\n<p>Analysts said the data bolstered expectations that the long-oversupplied market was moving toward balance.<\/p>\n<p>Oil prices had also been supported by Saudi Arabia&#8217;s pledge to cap its exports earlier this week. Saudi Energy Minister Khalid al-Falih said on Monday that the country would limit crude oil exports at 6.6 million barrels per day (bpd) in August, almost 1 million bpd below levels a year ago, according to media reports.<\/p>\n<p>The West Texas Intermediate for September Delivery added USD 0.29 dollar to settle at USD 49.04 a barrel on the New York Mercantile Exchange, while Brent crude for September delivery gained USD 0.52 to close at USD 51.49 a barrel on the London ICE Futures Exchange.(Xinhua)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, July 28\u2014 \u00a0Oil prices climbed for a consecutive fourth session on Thursday amid falling US inventories. US crude &hellip;<\/p>\n","protected":false},"author":33,"featured_media":108284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[19834,19906],"class_list":["post-108559","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news-w","tag-oil-prices","tag-us-inventories","mauthors-xinhua-news-agency-via-philippines-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/108559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=108559"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/108559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/108284"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=108559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=108559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=108559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}