{"id":6812,"date":"2021-03-18T14:11:44","date_gmt":"2021-03-18T14:11:44","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=6812"},"modified":"2021-03-18T14:11:44","modified_gmt":"2021-03-18T14:11:44","slug":"oil-falls-as-inventories-rise-vaccine-rollout-stalls","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2021\/03\/18\/oil-falls-as-inventories-rise-vaccine-rollout-stalls\/","title":{"rendered":"Oil falls as inventories rise, vaccine rollout stalls"},"content":{"rendered":"<p>Oil prices fell for a fifth day running on Thursday after official data showed a further increase in US crude and fuel inventories while the ever-present Covid-19 pandemic clouded the prospects for demand recovery.<\/p>\n<p>Brent crude fell $0.5, or 0.74%, to $67.50 a barrel by 1150 GMT after dropping 0.82% on Wednesday. US oil was down $0.53, or 0.82%, at $64.07 after shedding 0.3% in the previous session.<\/p>\n<p>Both contracts are down nearly 3% over the past five days.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6814\" src=\"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Oil-falls-as-inventories-rise-vaccine-rollout-stalls-rapidnews.jpg\" alt=\"Oil-falls-as-inventories-rise-vaccine-rollout-stalls-rapidnews-dailyrapid\" width=\"800\" height=\"533\" srcset=\"https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Oil-falls-as-inventories-rise-vaccine-rollout-stalls-rapidnews.jpg 800w, https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Oil-falls-as-inventories-rise-vaccine-rollout-stalls-rapidnews-300x200.jpg 300w, https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Oil-falls-as-inventories-rise-vaccine-rollout-stalls-rapidnews-768x512.jpg 768w, https:\/\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/03\/Oil-falls-as-inventories-rise-vaccine-rollout-stalls-rapidnews-675x450.jpg 675w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>\u201cShort-term developments \u2013 stuttering vaccine rollouts and the build in US oil inventories \u2013 are driving sentiment, but the longer-term oil outlook is still encouraging,\u201d said PVM Oil Associates analyst Tamas Varga.<\/p>\n<p>\u201cYesterday\u2019s (Wednesday\u2019s) US Federal Reserve meeting provided a boost to equities &#8230; US economic growth has been revised upwards while unemployment is expected to decline.\u201d<\/p>\n<p>Government data on Wednesday showed US crude inventories have risen for four straight weeks after severe cold weather forced shutdowns at refineries in the south. An industry report estimating a decline had raised hopes of a halt to the gains.<\/p>\n<p>US crude inventories rose by 2.4 million barrels last week, the US Energy Information Administration (EIA) said on Wednesday, a day after the American Petroleum Institute (API) estimated that there had been a 1-million-barrel decline.<\/p>\n<p>Varga added that the market would be waiting for US manufacturing data next week for further indications on the health of the world\u2019s largest economy.<\/p>\n<p>A slowdown in some vaccination programmes and the prospect of more restrictions to control the coronavirus tempered expectations for a recovery in fuel use.<\/p>\n<p>Britain said on Thursday that global supply bumps meant its vaccine rollout would be slower than hoped in the coming weeks but it expected deliveries to increase from May.<\/p>\n<p>A number of European countries have halted the use of AstraZeneca shot because of concerns about possible side effects, though the World Health Organisation said that Europe should continue to use the vaccine.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell for a fifth day running on Thursday after official data showed a<\/p>\n","protected":false},"author":1,"featured_media":6813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-6812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil falls as inventories rise, vaccine rollout stalls | Rapid News<\/title>\n<meta name=\"description\" content=\"Oil prices fell for a fifth day running on Thursday after official data showed a further increase in US crude and fuel inventories while\" \/>\n<meta name=\"robots\" content=\"index, follow, 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href=\"https:\/\/dailyrapidnews.com\/eng\/category\/business\/\" rel=\"category tag\">Business<\/a>","tag_info":"Business","comment_count":"0","jetpack-related-posts":[{"id":3464,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/02\/01\/oil-prices-gain-as-inventories-fall-demand-picks-up\/","url_meta":{"origin":6812,"position":0},"title":"Oil prices gain as inventories fall, demand picks up","date":"February 1, 2021","format":false,"excerpt":"Oil prices rose on Monday buoyed by falling inventories and hopes of a swifter global economic recovery, although halting vaccine rollouts and renewed travel restrictions capped gains. Brent crude was up $0.79, or 1.4%, at $55.83 a barrel by 1215 GMT. US crude gained $0.61, or 1.2%, to $52.81. Both\u2026","rel":"","context":"In &quot;Business&quot;","img":{"alt_text":"rapid-news-rapidnews-Oil-prices-gain-as-inventories-fall-demand-picks-up","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/02\/rapid-news-rapidnews-Oil-prices-gain-as-inventories-fall-demand-picks-up.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":10246,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/05\/06\/oil-prices-slip-despite-big-us-inventory-fall\/","url_meta":{"origin":6812,"position":1},"title":"Oil prices slip despite big US inventory fall","date":"May 6, 2021","format":false,"excerpt":"LONDON: Oil prices slipped after earlier gains on Thursday, weighed by rising Covid-19 infections in India and elsewhere, and despite a much sharper-than-expected fall in US crude inventories. 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Brent crude futures were up $0.55, or\u2026","rel":"","context":"In &quot;Business&quot;","img":{"alt_text":"Oil-prices-near-1-year-highs-after-stocks-draw-supply-deficit-forecast-dailyrapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/02\/Oil-prices-near-1-year-highs-after-stocks-draw-supply-deficit-forecast-dailyrapidnews.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2918,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/01\/27\/oil-above-56-as-lower-us-stockpiles-outweigh-demand-concerns\/","url_meta":{"origin":6812,"position":3},"title":"Oil above $56 as lower US stockpiles outweigh demand concerns","date":"January 27, 2021","format":false,"excerpt":"Oil rose above $56 a barrel on Wednesday after industry data showed US crude inventories fell unexpectedly, outweighing persistent concerns about demand as coronavirus cases top 100 million globally. Industry group American Petroleum Institute (API) said US crude inventories fell by 5.3 million barrels. Analysts had expected them to rise.\u2026","rel":"","context":"In &quot;Business&quot;","img":{"alt_text":"rapid-news-rapidnews-Oil-above-$56-as-lower-US-stockpiles-outweigh-demand-concerns","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/01\/rapid-news-rapidnews-Oil-above-56-as-lower-US-stockpiles-outweigh-demand-concerns.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":6812,"position":4},"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. Brent crude futures were down $1.16, or 1.8%, to $62.77 per barrel by 1150 GMT, while US West Texas Intermediate (WTI)\u2026","rel":"","context":"In &quot;Business&quot;","img":{"alt_text":"Oil-extends-losses-as-Texas-prepares-to-ramp-up-output-rapid-news-rapidnews-dailyrapid","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/02\/Oil-extends-losses-as-Texas-prepares-to-ramp-up-output-rapid-news-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":6812,"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 &quot;Business&quot;","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\/6812","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=6812"}],"version-history":[{"count":1,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/6812\/revisions"}],"predecessor-version":[{"id":6815,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/6812\/revisions\/6815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media\/6813"}],"wp:attachment":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media?parent=6812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/categories?post=6812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/tags?post=6812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}