{"id":32904,"date":"2020-09-28T14:20:22","date_gmt":"2020-09-28T14:20:22","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=32904"},"modified":"2020-09-28T14:20:32","modified_gmt":"2020-09-28T14:20:32","slug":"oil-prices-dip-as-coronavirus-cases-surge-dims-prospect-bonny-light-gains-0-13","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=32904","title":{"rendered":"Oil prices dip as coronavirus cases surge dims prospect; Bonny Light gains $0.13"},"content":{"rendered":"\n
\"Oil<\/figure>\n\n\n\n

Oil prices slipped on Monday, helped by soaring Covid-19 infections, which weakened the possibility of seamless fuel demand recovery, with crude set for its first monthly drop in many months following a decline last week.<\/p>\n\n\n\n

Brent crude<\/a> was down by 8 cents or 0.2% at $41.84 per barrel by 01.03 West Africa Time after dropping 2.9% last week. U.S. West Texas Intermediate<\/a> (WTI) traded down by 13 cents or 0.3% at $40.12 a barrel, having shed 2.1% in the week that just went by.<\/p>\n\n\n\n

Qua Iboe<\/a>, a major Nigerian grade, fell by 0.70% to $41.06 at 12:12 West Africa Time. At the last session on Friday,\u00a0Bonny Light<\/a>, Nigeria\u2019s banner oil grade, was 13 cents of 0.32% stronger at $40.91.<\/p>\n\n\n\n

Brent is heading for its first drop in six months while WTI is approaching its first since April as re-imposed movement restrictions in many countries after new coronavirus cases weaken fuel demand recovery prospect.<\/p>\n\n\n\n

\u201cNew COVID-19 case numbers are accelerating in major U.S. states, renewing fears of mobility restrictions challenging the ongoing oil demand recovery in the last quarter,\u201d said analysts at ANZ in a note.<\/p>\n\n\n\n

Regardless of the move by the Organisation of the Petroleum Exporting Countries (OPEC) and its allies to rein in output, bigger oil volumes is being exported by Libya and Iran.<\/p>\n\n\n\n

Mohammad Barkindo, OPEC\u2019s Secretary, on Sunday said commercial oil stocks in OECD nations are seen to climb only modestly beyond the five-year average January through March next year before tumbling past that point for the remainder of 2021.<\/p>\n\n\n\n

In Norway, one of the major producers outside OPEC, a labour strike which could begin on 30th<\/sup> September might reduce output by 900,000 barrels per day, said the Norwegian Oil and Gas Association on Friday.<\/p>\n\n\n\n

Over the weekend, a conflict flared between Azerbaijan and Armenia, reigniting fears about stability in the South Caucasus, a corridor for pipelines conveying oil and gas to world markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices slipped on Monday, helped by soaring Covid-19 infections, which weakened the possibility of seamless fuel demand recovery, with crude set for its first monthly drop in many months following a decline last week. Brent crude was down by 8 cents or 0.2% at $41.84 per barrel by 01.03 West Africa Time after dropping 2.9% […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[43],"tags":[],"yoast_head":"\nOil prices dip as coronavirus cases surge dims prospect; Bonny Light gains $0.13 » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=32904\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=32904#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Petroleum\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=43\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Oil prices dip as coronavirus cases surge dims prospect; Bonny Light gains $0.13\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oil prices dip as coronavirus cases surge dims prospect; Bonny Light gains $0.13 » WatchDog Plus Media","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:\/\/watchdogplusmedia.com\/?p=32904","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=32904#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Petroleum","item":"https:\/\/watchdogplusmedia.com\/?cat=43"},{"@type":"ListItem","position":3,"name":"Oil prices dip as coronavirus cases surge dims prospect; Bonny Light gains $0.13"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=43\" rel=\"category\">Petroleum<\/a>","rttpg_excerpt":"Oil prices slipped on Monday, helped by soaring Covid-19 infections, which weakened the possibility of seamless fuel demand recovery, with crude set for its first monthly drop in many months following a decline last week. Brent crude was down by 8 cents or 0.2% at $41.84 per barrel by 01.03 West Africa Time after dropping 2.9%…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/32904"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32904"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/32904\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}