{
    "success": true,
    "data": {
        "id": 1135061,
        "msgid": "oil-prices-rise-amid-supply-worries-1447899208",
        "date": "2005-06-18 00:00:00",
        "title": "Oil prices rise amid supply worries ",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "Oil prices rise amid supply worries Agence France-Presse London World oil prices extended recent strong gains on Friday amid worries about the possibility of supply shortages later in the year. New York's main contract, light sweet crude for delivery in July, rose 21 U.S. cent to US$56.79 per barrel in electronic deals. The contract had jumped $1.01 to end at $56.58 on Thursday as a shortage of refinery capacity in the United States and a fall in US crude stocks prompted strong buying interest.",
        "content": "<p>Oil prices rise amid supply worries<\/p>\n<p>Agence France-Presse<br>\nLondon<\/p>\n<p>World oil prices extended recent strong gains on Friday amid <br>\nworries about the possibility of supply shortages later in the <br>\nyear.<\/p>\n<p>New York's main contract, light sweet crude for delivery in <br>\nJuly, rose 21 U.S. cent to US$56.79 per barrel in electronic <br>\ndeals.<\/p>\n<p>The contract had jumped $1.01 to end at $56.58 on Thursday as <br>\na shortage of refinery capacity in the United States and a fall <br>\nin US crude stocks prompted strong buying interest.<\/p>\n<p>In London, the price of Brent North Sea crude oil for delivery <br>\nin August climbed 43 U.S. cents to $56.65 per barrel. It had <br>\nclosed up 98 U.S. cents on Thursday.<\/p>\n<p>Oil prices were closing in on record high points of $58.28 per <br>\nbarrel in New York and $57.65 in London recorded in April.<\/p>\n<p>Prices have shot up since Wednesday after the U.S. Department <br>\nof Energy (DoE) said crude oil reserves fell 1.8 million barrels <br>\nto 339 million in the week ending June 10.<\/p>\n<p>The data was released a few hours after OPEC's 11 members <br>\nagreed to raise the cartel's production ceiling by 500,000 <br>\nbarrels per day (bpd) on July 1 and said it might repeat the move <br>\nby September.<\/p>\n<p>OPEC's quota increase was largely seen as a symbolic gesture, <br>\nhowever, because the cartel was already pumping more oil than its <br>\nofficial ceiling of 27.5 million bpd set before Wednesday's <br>\nincrease.<\/p>\n<p>Despite the DoE reporting a rise in weekly U.S. distillates <br>\nstockpiles, the market remains worried about a possible heating <br>\nfuel shortage during the fourth quarter.<\/p>\n<p>After its ministerial meeting in Vienna on Wednesday, the <br>\nOrganization of Petroleum Exporting Countries warned consumer <br>\nnations and the oil industry that they must tackle a refinery <br>\nbottleneck which it blames for driving oil prices higher.<\/p>\n<p>Oil ministers were adamant that their move to stabilize <br>\nmarkets must be accompanied by investment in adequate refineries, <br>\nwhich are essential to convert crude oil into products such as <br>\npetrol or heating fuel.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/oil-prices-rise-amid-supply-worries-1447899208",
        "image": ""
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    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
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