{"id":6151,"date":"2021-03-08T09:19:26","date_gmt":"2021-03-08T09:19:26","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=6151"},"modified":"2021-03-08T09:19:26","modified_gmt":"2021-03-08T09:19:26","slug":"key-oil-price-surges-above-70-after-attack-on-saudi-facilities","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/","title":{"rendered":"Key oil price surges above $70 after attack on Saudi facilities"},"content":{"rendered":"

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.<\/p>\n

Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since January 8, 2020, and were at $71.11 a barrel by 02:55 GMT, up $1.75, or 2.5 percent.<\/p>\n

\n

US West Texas Intermediate (WTI) crude for April rose $1.60, or 2.4 percent, to $67.69. The April WTI price touched $67.98 a barrel earlier, the highest since October 2018.<\/p>\n

\"Key-oil-price-surges-above-$70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid-dailyrapidnews\"<\/p>\n

Yemen\u2019s Houthi forces fired drones and missiles at the heart of Saudi Arabia\u2019s oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security.<\/p>\n

Ras Tanura is the world\u2019s largest oil terminal, capable of exporting roughly 6.5 million barrels a day \u2013 nearly 7 percent of oil demand \u2013 and as such is heavily protected. The port includes a large storage tank farm where crude is kept before it is pumped into super-tankers.<\/p>\n

The drone and missile attacks were intercepted and crude production appeared to be unaffected. But the latest in a series of assaults claimed by Iran-backed Houthi rebels led oil prices to climb above $70 a barrel.<\/p>\n

\u2018Further upside\u2019<\/h2>\n

The attacks are the most serious against Saudi oil installations since a key processing facility and two fields came under fire in September 2019, cutting production for several days and exposing the vulnerability of the kingdom\u2019s petroleum industry. That was claimed by Yemen\u2019s Houthi rebels, although Riyadh pointed the finger at archrival Iran.<\/p>\n

\u201cWe could see further upside in the market in the near-term, particularly as the market probably now needs to be pricing in some sort of risk premium, with these attacks picking up in frequency,\u201d ING analysts said in a report, noting that this was the second attack this month following an incident in Jeddah on March 4.<\/p>\n

Brent and WTI prices are up for the fourth consecutive session after OPEC and its allies decided to keep production cuts largely unchanged in April.<\/p>\n

Despite fast-rising crude prices, Saudi Arabia\u2019s oil minister has voiced doubts about a solid recovery in global energy demand.<\/p>\n

\u201cThe decision to keep quotas unchanged signals the group\u2019s intent to drawdown inventories further, without concern of over tightening the market,\u201d ANZ analysts said in a note. \u201cIt also suggests they see little threat from rising output elsewhere.\u201d<\/p>\n

However, the energy minister in the world\u2019s third-largest crude importer, India, said higher prices could threaten the consumption led-recovery in some countries.<\/p>\n

Higher prices have also encouraged US energy firms to add oil and natural gas rigs for a second week in a row, energy services firm Baker Hughes Co said on Friday.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Brent crude futures surged above $70 a barrel on Monday for the first time since<\/p>\n","protected":false},"author":1,"featured_media":6152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-6151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nKey oil price surges above $70 after attack on Saudi facilities<\/title>\n<meta name=\"description\" content=\"Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude\" \/>\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\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key oil price surges above $70 after attack on Saudi facilities\" \/>\n<meta property=\"og:description\" content=\"Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/\" \/>\n<meta property=\"og:site_name\" content=\"Rapid News\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-08T09:19:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/#website\",\"url\":\"https:\/\/dailyrapidnews.com\/eng\/\",\"name\":\"Rapid News\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/dailyrapidnews.com\/eng\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg\",\"contentUrl\":\"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg\",\"width\":800,\"height\":540,\"caption\":\"Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#webpage\",\"url\":\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/\",\"name\":\"Key oil price surges above $70 after attack on Saudi facilities\",\"isPartOf\":{\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#primaryimage\"},\"datePublished\":\"2021-03-08T09:19:26+00:00\",\"dateModified\":\"2021-03-08T09:19:26+00:00\",\"author\":{\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/#\/schema\/person\/950b57c7996a13e09938c5e45be30a5c\"},\"description\":\"Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude\",\"breadcrumb\":{\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/dailyrapidnews.com\/eng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Key oil price surges above $70 after attack on Saudi facilities\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/#\/schema\/person\/950b57c7996a13e09938c5e45be30a5c\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/dailyrapidnews.com\/eng\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b833642ff3b2364918fd2b384cafa111bc9b39a668c6435fe2488d01d4ce563e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b833642ff3b2364918fd2b384cafa111bc9b39a668c6435fe2488d01d4ce563e?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/dailyrapidnews.com\/eng\"],\"url\":\"https:\/\/dailyrapidnews.com\/eng\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Key oil price surges above $70 after attack on Saudi facilities","description":"Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/","og_locale":"en_US","og_type":"article","og_title":"Key oil price surges above $70 after attack on Saudi facilities","og_description":"Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude","og_url":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/","og_site_name":"Rapid News","article_published_time":"2021-03-08T09:19:26+00:00","og_image":[{"width":800,"height":540,"url":"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/dailyrapidnews.com\/eng\/#website","url":"https:\/\/dailyrapidnews.com\/eng\/","name":"Rapid News","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/dailyrapidnews.com\/eng\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#primaryimage","inLanguage":"en-US","url":"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg","contentUrl":"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg","width":800,"height":540,"caption":"Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid"},{"@type":"WebPage","@id":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#webpage","url":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/","name":"Key oil price surges above $70 after attack on Saudi facilities","isPartOf":{"@id":"https:\/\/dailyrapidnews.com\/eng\/#website"},"primaryImageOfPage":{"@id":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#primaryimage"},"datePublished":"2021-03-08T09:19:26+00:00","dateModified":"2021-03-08T09:19:26+00:00","author":{"@id":"https:\/\/dailyrapidnews.com\/eng\/#\/schema\/person\/950b57c7996a13e09938c5e45be30a5c"},"description":"Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude","breadcrumb":{"@id":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/08\/key-oil-price-surges-above-70-after-attack-on-saudi-facilities\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/dailyrapidnews.com\/eng\/"},{"@type":"ListItem","position":2,"name":"Key oil price surges above $70 after attack on Saudi facilities"}]},{"@type":"Person","@id":"https:\/\/dailyrapidnews.com\/eng\/#\/schema\/person\/950b57c7996a13e09938c5e45be30a5c","name":"admin","image":{"@type":"ImageObject","@id":"https:\/\/dailyrapidnews.com\/eng\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/b833642ff3b2364918fd2b384cafa111bc9b39a668c6435fe2488d01d4ce563e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b833642ff3b2364918fd2b384cafa111bc9b39a668c6435fe2488d01d4ce563e?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/dailyrapidnews.com\/eng"],"url":"https:\/\/dailyrapidnews.com\/eng\/author\/admin\/"}]}},"jetpack_featured_media_url":"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg","featured_image_urls":{"full":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg",800,540,false],"thumbnail":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid-150x150.jpg",150,150,true],"medium":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid-300x203.jpg",300,203,true],"medium_large":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid-768x518.jpg",640,432,true],"large":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg",640,432,false],"1536x1536":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg",800,540,false],"2048x2048":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg",800,540,false],"cream-magazine-thumbnail-2":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg",667,450,false],"cream-magazine-thumbnail-3":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg",720,486,false],"cream-magazine-thumbnail-4":["https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Key-oil-price-surges-above-70-after-attack-on-Saudi-facilities-rapid-news-dailyrapid.jpg",450,304,false]},"author_info":{"display_name":"admin","author_link":"https:\/\/dailyrapidnews.com\/eng\/author\/admin\/"},"category_info":"<a href=\"https:\/\/dailyrapidnews.com\/eng\/category\/business\/\" rel=\"category tag\">Business<\/a>","tag_info":"Business","comment_count":"0","jetpack-related-posts":[{"id":5954,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/05\/oil-hits-almost-14-month-high-as-opec-extends-output-cuts\/","url_meta":{"origin":6151,"position":0},"title":"Oil hits almost 14-month high as OPEC+ extends output cuts","date":"March 5, 2021","format":false,"excerpt":"Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after the Organisation of the Petroleum Exporting Countries (OPEC) and its allies agreed not to increase supply in April as they await a more substantial recovery in demand. Brent crude futures were up $1.52, or\u2026","rel":"","context":"In "Business"","img":{"alt_text":"Oil-hits-almost-14-month-high-as-Opec-extends-output-cuts-rapidnews-dailyrapid","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Oil-hits-almost-14-month-high-as-Opec-extends-output-cuts-rapidnews-dailyrapid.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":6653,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/15\/oil-reaching-70-as-china-energy-demand-outlook-brightens\/","url_meta":{"origin":6151,"position":1},"title":"Oil reaching $70 as China energy demand outlook brightens","date":"March 15, 2021","format":false,"excerpt":"Oil prices stood steady on Monday, with Brent reaching $70 a barrel, as data showed China\u2019s economic recovery accelerated at the start of 2021, boosting the energy demand outlook at the world\u2019s largest oil importer. Brent crude futures for May were steady at $69.21, down $0.01 a barrel by 1150\u2026","rel":"","context":"In "Business"","img":{"alt_text":"Oil-reaching-$70-as-China-energy-demand-outlook-brightens-rapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Oil-reaching-70-as-China-energy-demand-outlook-brightens-rapidnews.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":4589,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/02\/15\/oil-hits-13-months-highs-on-fears-of-middle-east-tensions\/","url_meta":{"origin":6151,"position":2},"title":"Oil hits 13-months highs on fears of Middle East tensions","date":"February 15, 2021","format":false,"excerpt":"Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying, while hopes that a US stimulus and an easing of lockdowns will buoy fuel demand provided support. 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":4169,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/02\/09\/oil-hits-13-month-highs-on-supply-cuts-weak-dollar\/","url_meta":{"origin":6151,"position":3},"title":"Oil hits 13-month highs on supply cuts, weak dollar","date":"February 9, 2021","format":false,"excerpt":"Oil hit 13-month highs on Tuesday with the Brent benchmark staying above $60 a barrel, supported by supply cuts, a weak dollar and optimism over a recovery in fuel demand. Brent crude futures for April were up $0.16, or 0.3%, to $60.72 a barrel by 1301 GMT. US West Texas\u2026","rel":"","context":"In "Business"","img":{"alt_text":"oil-hits-13month-high-suplly-cuts-weak-dollar-rapid-news-rapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/02\/oil-hits-13month-high-suplly-cuts-weak-dollar-rapid-news-rapidnews.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":6151,"position":4},"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":1139,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/01\/08\/oil-hits-11-month-highs-on-saudi-output-cut-pledge-equities-rally\/","url_meta":{"origin":6151,"position":5},"title":"Oil hits 11-month highs on Saudi output cut pledge, equities rally","date":"January 8, 2021","format":false,"excerpt":"Oil prices on Friday hit 11-month highs and were on track for a strong weekly gain as a rally in global equities fed risk appetite and stoked bullish sentiment following Saudi Arabia\u2019s pledge to cut output. Brent crude climbed 39 cents, or 0.7 per cent, to $54.77 a barrel by\u2026","rel":"","context":"In "Business"","img":{"alt_text":"oil-near-11-month-high-saudi-oil-out-put-cut-rapid-news-rapidnews-dailyrapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/01\/oil-near-11-month-high-saudi-oil-out-put-cut-rapid-news-rapidnews-dailyrapidnews.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/6151","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=6151"}],"version-history":[{"count":1,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/6151\/revisions"}],"predecessor-version":[{"id":6155,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/6151\/revisions\/6155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media\/6152"}],"wp:attachment":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media?parent=6151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/categories?post=6151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/tags?post=6151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}