# The Commodities Feed: Oil still under pressure | snaps | ING THINK

> Crude oil traded soft over the week as improving near-term supplies and uncertain demand widened forward curves. European gasoil cracks fell to a ten-year low and Singapore distillate stocks hit a nine-year high. Hurricane disruptions reduced US diesel shipments briefly.

- Date: 2020-09-04 · published 2020-09-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10232-the-commodities-feed-oil-still-under-pressure-snaps-ing-think
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Ample distillate and crude inventories and weak refining margins point to continued soft energy prices, while a firmer dollar adds pressure on metals and dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Sources

- think.ing.com: https://think.ing.com/snaps/the-commodities-feed-oil-still-comes-under-pressure/

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