# US crude oil climbs more than $2 on fears of Hurricane Francine

> US crude rose more than 2% on fears of long offshore production shutdowns as Hurricane Francine approached Louisiana. Brent settled at $70.61 and US crude at $67.31, and Cushing stocks fell 1.7 million barrels despite a crude inventory build.

- Date: 2024-09-11 · published 2024-09-11T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10172-us-crude-oil-climbs-more-than-2-on-fears-of-hurricane-francine
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected offshore shut-ins from the hurricane support crude prices, and tight Cushing stocks add to the upward pressure.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2024-09-12 | 1 | +5.0% | 3.5 | The prior-day rally on Francine fears set up the rebound and shows the storm premium building, though it falls just before the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-10-27 | [Oil jumps more than 2% on U.S. Gulf shutdowns](https://feedsoft.ai/events/50819-oil-jumps-more-than-2-on-u-s-gulf-shutdowns.md) | -4.6% | +11.7% |
| WTI | 2018-10-10 | [Hurricane knocks out 42 percent of U.S. Gulf of Mexico oil output](https://feedsoft.ai/events/7404-hurricane-knocks-out-42-percent-of-u-s-gulf-of-mexico-oil-output.md) | -4.0% | -17.0% |
| WTI | 2020-08-28 | [-Oil prices dip as producers, refiners avoid worst of hurricane \| Reuters](https://feedsoft.ai/events/51781-oil-prices-dip-as-producers-refiners-avoid-worst-of-hurricane-reuters.md) | -3.6% | -6.5% |
| WTI | 2024-09-12 | [Oil rises 2% as storm batters US Gulf of Mexico production](https://feedsoft.ai/events/10166-oil-rises-2-as-storm-batters-us-gulf-of-mexico-production.md) | +5.3% | +8.4% |
| WTI | 2024-11-11 | [U.S. Natural Gas Prices Jump Over 10% After Hurricane Rafael Hits \| OilPrice.com](https://feedsoft.ai/events/7028-u-s-natural-gas-prices-jump-over-10-after-hurricane-rafael-hits-oilprice-com.md) | -4.8% | -2.9% |
| BRENT | 2020-10-27 | [Oil jumps more than 2% on U.S. Gulf shutdowns](https://feedsoft.ai/events/50819-oil-jumps-more-than-2-on-u-s-gulf-shutdowns.md) | -3.5% | +14.5% |
| BRENT | 2020-08-28 | [-Oil prices dip as producers, refiners avoid worst of hurricane \| Reuters](https://feedsoft.ai/events/51781-oil-prices-dip-as-producers-refiners-avoid-worst-of-hurricane-reuters.md) | -3.5% | -7.5% |
| BRENT | 2024-09-12 | [Oil rises 2% as storm batters US Gulf of Mexico production](https://feedsoft.ai/events/10166-oil-rises-2-as-storm-batters-us-gulf-of-mexico-production.md) | +5.1% | +9.0% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/oil-prices-rebound-fears-supply-012444633.html

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