{"id":13086,"date":"2017-05-11T18:47:49","date_gmt":"2017-05-11T17:47:49","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=13086"},"modified":"2017-05-11T18:47:49","modified_gmt":"2017-05-11T17:47:49","slug":"oil-returns-to-50-as-us-stocks-drop","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/oil-returns-to-50-as-us-stocks-drop\/","title":{"rendered":"Oil returns to $50 as US stocks drop"},"content":{"rendered":"<div id=\"yiv4479135259yui_3_16_0_ym19_1_1494517500822_3839\">Global oil benchmark, Brent crude, recouped some of the losses it recorded in recent days on Wednesday and traded above the $50 per barrel mark.<\/div>\n<div><\/div>\n<div>Oil prices were bolstered by the biggest one-week drop in the United States&#8217; inventories so far this year, and after Iraq and Algeria joined Saudi Arabia in supporting an extension to supply cuts by the Organisation of Petroleum Exporting Countries.<\/div>\n<div><\/div>\n<div id=\"yiv4479135259yui_3_16_0_ym19_1_1494517500822_3846\"><span id=\"yiv4479135259yui_3_16_0_ym19_1_1494517500822_3847\">Brent, against which half of the world&#8217;s oil is priced, rose by $1.53 to $50.26 per barrel as of 6:10pm Nigerian time, while the US West Texas Intermediate increased by $1.57 to $47.45 per barrel.<\/span><\/div>\n<div><\/div>\n<div id=\"yiv4479135259yui_3_16_0_ym19_1_1494517500822_3849\"><span id=\"yiv4479135259yui_3_16_0_ym19_1_1494517500822_3850\">Concerns about rising output from the US, Libya and Nigeria continue to weigh on markets, however, and some analysts questioned whether the sharp rebound following the US government figures would be sustained.<\/span><\/div>\n<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Global oil benchmark, Brent crude, recouped some of the losses it recorded in recent days on Wednesday and traded above the $50 per barrel mark. Oil prices were bolstered by the biggest one-week drop in the United States&#8217; inventories so far this year, and after Iraq and Algeria joined Saudi Arabia in supporting an extension &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":12659,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[1355],"coauthors":[2392,2393],"class_list":["post-13086","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-oil"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil returns to $50 as US stocks drop - National Wire<\/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:\/\/nationalwire.com.ng\/sub\/oil-returns-to-50-as-us-stocks-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil returns to $50 as US stocks drop - National Wire\" \/>\n<meta property=\"og:description\" content=\"Global oil benchmark, Brent crude, recouped some of the losses it recorded in recent days on Wednesday and traded above the $50 per barrel mark. 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