{"id":11182,"date":"2021-05-25T13:53:56","date_gmt":"2021-05-25T13:53:56","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=11182"},"modified":"2021-05-25T13:54:39","modified_gmt":"2021-05-25T13:54:39","slug":"oil-near-one-week-high-as-prospect-of-iran-glut-wanes","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2021\/05\/25\/oil-near-one-week-high-as-prospect-of-iran-glut-wanes\/","title":{"rendered":"Oil near one-week high as prospect of Iran glut wanes"},"content":{"rendered":"

LONDON: <\/strong><\/span>Oil prices slipped on Tuesday, but were near one-week highs after jumping more than 3% the previous session as investors tempered expectations of an early return of oil exporter Iran to international crude markets.<\/p>\n

Brent crude futures were down $0.2, or 0.3%, at $68.26 a barrel by 1223 GMT, having jumped 3% on Monday. US West Texas Intermediate futures were off $0.29, or 0.4%, at $65.76 a barrel, after gaining 3.9% the previous session.<\/p>\n

\"Oil-near-one-week-high-as-prospect-of-Iran-glut-wanes-rapidnews\"<\/p>\n

Indirect negotiations between the United States and Iran are due to resume in Vienna this week. Talks were given another life after Tehran and the UN nuclear agency extended a monitoring agreement on the Middle Eastern country’s atomic programme.<\/p>\n

US Secretary of State Antony Blinken on Sunday said the United States has not seen yet whether Iran will move to comply with its nuclear commitments in order to have sanctions removed even as ongoing talks have shown progress.<\/p>\n

“It seems that the market no longer expects the nuclear agreement between the US and Iran to be reinstated in the near future, or therefore that Iranian oil exports will quickly return to the global market,” Commerzbank said in a note.<\/p>\n

Still, the global recovery from the Covid-19 pandemic is patchy, indicating a mixed outlook for oil demand.<\/p>\n

Parts of Europe and the United States are recording fewer infections and deaths, prompting governments to ease restrictions, but in other areas such as India – the world’s third-biggest oil importer – rates are still high.<\/p>\n

New coronavirus infections in India rose by 222,315, government data showed on Monday, the world’s biggest 24-hour increase, though numbers have fallen off highs of over 400,000 earlier this month.<\/p>\n

The German economy shrank more than expected in the first quarter as coronavirus-related restrictions spurred householders to put more money than ever into savings, data showed on Tuesday.<\/p>\n

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<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

LONDON: Oil prices slipped on Tuesday, but were near one-week highs after jumping more than<\/p>\n","protected":false},"author":1,"featured_media":11184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-11182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nOil near one-week high as prospect of Iran glut wanes | Rapid News<\/title>\n<meta name=\"description\" content=\"LONDON: Oil prices slipped on Tuesday, but were near one-week highs after jumping more than 3% the previous session as investors\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailyrapidnews.com\/eng\/2021\/05\/25\/oil-near-one-week-high-as-prospect-of-iran-glut-wanes\/\" \/>\n<meta property=\"og:locale\" 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Brent crude futures rose $0.69, or 1%, to\u2026","rel":"","context":"In "Business"","img":{"alt_text":"Oil-trades-near-$70-a-barrel-on-improving-demand-outlook-rapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/05\/Oil-trades-near-70-a-barrel-on-improving-demand-outlook-rapidnews-dailyrapidnews.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":6151,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/","url_meta":{"origin":11182,"position":1},"title":"Key oil price surges above $70 after attack on Saudi facilities","date":"March 8, 2021","format":false,"excerpt":"Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities. Brent crude futures for May hit $71.38 a barrel in early Asian\u2026","rel":"","context":"In "Business"","img":{"alt_text":"Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":13877,"url":"https:\/\/dailyrapidnews.com\/eng\/2022\/04\/04\/oil-prices-are-falling-as-a-result-of-a-cease-fire-in-the-middle-east\/","url_meta":{"origin":11182,"position":2},"title":"Oil prices are falling as a result of a cease-fire in the Middle East conflict and reports of increased petroleum reserves.","date":"April 4, 2022","format":false,"excerpt":"The United Arab Emirates and the Iran-aligned Houthi group hailed a 'truce' that would pause military operations on the Saudi-Yemeni border, alleviating some fears about future supply shortages. The early losses this week follow a drop in oil prices of approximately 13% last week, the worst weekly drop in two\u2026","rel":"","context":"In "World"","img":{"alt_text":"Oil prices","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2022\/04\/Capture-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":4901,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/02\/19\/oil-extends-losses-as-texas-prepares-to-ramp-up-output\/","url_meta":{"origin":11182,"position":3},"title":"Oil extends losses as Texas prepares to ramp up output","date":"February 19, 2021","format":false,"excerpt":"Oil prices fell from recent highs for a second day on Friday as Texas energy firms began to prepare for restarting oil and gas fields shuttered by freezing weather. 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Brent crude was up $1.09, or 1.8 per cent,\u2026","rel":"","context":"In "Business"","img":{"alt_text":"Oil-hits-13-months-highs-on-fears-of-Middle-East-tensions-rapidnews-dailyrapid","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/02\/Oil-hits-13-months-highs-on-fears-of-Middle-East-tensions-rapidnews-dailyrapid.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2559,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/01\/25\/oil-prices-edge-lower-as-covid-19-lockdown-concerns-overshadow-demand-prospects\/","url_meta":{"origin":11182,"position":5},"title":"Oil prices edge lower as Covid-19 lockdown concerns overshadow demand prospects","date":"January 25, 2021","format":false,"excerpt":"Oil prices slipped for a second straight session on Monday as renewed Covid-19 lockdowns raised fresh concerns about global fuel demand. Brent crude futures for March fell 8 cents, or 0.1%, to $55.38 a barrel by 0717 GMT, while US\u00a0West Texas Intermediate crude for March was at $52.26 a barrel,\u2026","rel":"","context":"In "Business"","img":{"alt_text":"rapid-news-rapidnews-Oil-prices-edge-lower-as-Covid-19-lockdown-concerns-overshadow-demand-prospects","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/01\/rapid-news-rapidnews-Oil-prices-edge-lower-as-Covid-19-lockdown-concerns-overshadow-demand-prospects.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/11182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/comments?post=11182"}],"version-history":[{"count":1,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/11182\/revisions"}],"predecessor-version":[{"id":11185,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/11182\/revisions\/11185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media\/11184"}],"wp:attachment":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media?parent=11182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/categories?post=11182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/tags?post=11182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}