# Oil prices end higher after upbeat readings on manufacturing activity outweigh jitters over coronavirus, OPEC+ output boost - MarketWatch

> Oil futures ended higher on Monday after the ISM manufacturing index rose to 54.2 in July, above consensus. OPEC+ agreed to ease output cuts from August, though traders saw limited upside as COVID-19 cases kept rising. WTI settled at $41.01 a barrel and Brent at $44.15.

- Date: 2020-08-03 · published 2020-08-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10741-oil-prices-end-higher-after-upbeat-readings-on-manufacturing-activity-outweigh
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude prices lift diesel and freight costs for feed producers and can support soybean oil and other energy-linked feed prices. OPEC+ supply increases cap the upside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-prices-edge-higher-but-kick-off-august-on-an-unsteady-note-as-traders-brace-for-opec-output-boost-2020-08-03

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