# Oil eases on resuming US output after storm, rising rig count | Reuters

> Oil futures eased as US Gulf production resumed after the storm and the US rig count rose. For the week, Brent gained about 0.8% and WTI about 1.4%, breaking a streak of declines.

- Date: 2024-09-13 · published 2024-09-13T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/10168-oil-eases-on-resuming-us-output-after-storm-rising-rig-count-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Restored US output and rising rig counts add supply back to the market, which caps crude price gains.

## Read by commodity

- WTI: bearish ▼
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-01-26 | [ULSD Rises Amid Winter Storm, Oil Slips on Output Returns](https://feedsoft.ai/events/21245-ulsd-rises-amid-winter-storm-oil-slips-on-output-returns.md) | +6.4% | +9.1% |
| WTI | 2017-08-30 | [Crude slips, gasoline jumps as storm shuts a fifth of US fuel output](https://feedsoft.ai/events/8395-crude-slips-gasoline-jumps-as-storm-shuts-a-fifth-of-us-fuel-output.md) | +5.8% | +12.2% |
| WTI | 2017-01-03 | [The End Of The Rally? Oil Reverses, Natural Gas Trounced \| OilPrice.com](https://feedsoft.ai/events/11916-the-end-of-the-rally-oil-reverses-natural-gas-trounced-oilprice-com.md) | -3.3% | -1.8% |
| WTI | 2021-08-10 | [US corn and soybean futures decline - Markets - Business Recorder](https://feedsoft.ai/events/12610-us-corn-and-soybean-futures-decline-markets-business-recorder.md) | +1.3% | +2.9% |
| WTI | 2017-01-04 | [Crude Oil and Natural Gas Futures Plunge on Tuesday - Oklahoma Energy Today](https://feedsoft.ai/events/11910-crude-oil-and-natural-gas-futures-plunge-on-tuesday-oklahoma-energy-today.md) | -2.9% | +2.9% |
| BRENT | 2019-07-11 | [Oil slips 0.4% on dim OPEC demand forecast after early jump on Gulf of Mexico storm](https://feedsoft.ai/events/58264-oil-slips-0-4-on-dim-opec-demand-forecast-after-early-jump-on-gulf-of-mexico.md) | -4.6% | -16.6% |
| BRENT | 2023-06-22 | [Analyst Insight: Rapeseed market influences – where next for soyabeans? \| AHDB](https://feedsoft.ai/events/9770-analyst-insight-rapeseed-market-influences-where-next-for-soyabeans-ahdb.md) | -4.1% | +3.1% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-extend-recovery-rally-cap-volatile-week-2024-09-13/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.