# The Commodities Feed: The complex moves higher | articles | ING THINK

> Brent rallied back above $70 a barrel and settled more than 2% higher as Hurricane Francine shut in roughly 675,000 b/d of US Gulf output. EIA data showed a crude inventory build, and European gas prices rose on LNG export concerns along the US Gulf Coast.

- Date: 2024-09-12 · published 2024-09-12T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10171-the-commodities-feed-the-complex-moves-higher-articles-ing-think
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Hurricane-related production losses and LNG export risks support crude and natural gas prices, which raises energy and fertilizer-linked input costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- NATGAS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2024-09-12 | 1 | +5.0% | 3.5 | Brent rallied back above $70 on the same day as about 675,000 b/d of US Gulf output was shut in, confirming the supply-shock mechanism. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-08-30 | [Ida update: oil markets open higher; ALAN gives guidance - FreightWaves](https://feedsoft.ai/events/45745-ida-update-oil-markets-open-higher-alan-gives-guidance-freightwaves.md) | +0.5% | +7.3% |
| BRENT | 2023-06-21 | [Oil rallies as grain markets tighten, dollar falls on Fed Chair comments](https://feedsoft.ai/events/9771-oil-rallies-as-grain-markets-tighten-dollar-falls-on-fed-chair-comments.md) | -5.0% | +4.9% |
| BRENT | 2025-01-09 | [Oil settles up 1% as cold weather in US, Europe drives winter fuel demand \| Reuters](https://feedsoft.ai/events/10347-oil-settles-up-1-as-cold-weather-in-us-europe-drives-winter-fuel-demand-reuters.md) | +7.8% | -2.7% |
| BRENT | 2025-02-19 | [Arctic blast sends natural gas to highest since 2022, and oil ticks up on supply worries - MarketWatch](https://feedsoft.ai/events/8691-arctic-blast-sends-natural-gas-to-highest-since-2022-and-oil-ticks-up-on-supply.md) | -4.1% | -6.4% |
| BRENT | 2024-09-11 | [US crude oil climbs more than $2 on fears of Hurricane Francine](https://feedsoft.ai/events/10172-us-crude-oil-climbs-more-than-2-on-fears-of-hurricane-francine.md) | +6.3% | +11.4% |
| WTI | 2021-08-30 | [Ida update: oil markets open higher; ALAN gives guidance - FreightWaves](https://feedsoft.ai/events/45745-ida-update-oil-markets-open-higher-alan-gives-guidance-freightwaves.md) | +0.8% | +9.7% |
| WTI | 2023-06-21 | [Oil rallies as grain markets tighten, dollar falls on Fed Chair comments](https://feedsoft.ai/events/9771-oil-rallies-as-grain-markets-tighten-dollar-falls-on-fed-chair-comments.md) | -4.4% | +6.5% |
| WTI | 2022-12-23 | [Storm cuts U.S. oil, gas, power output, sending prices higher](https://feedsoft.ai/events/38414-storm-cuts-u-s-oil-gas-power-output-sending-prices-higher.md) | +3.3% | +3.0% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-complex-moves-higher120924/

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