# Oil rises on European stock draw despite demand slowdown forecast

> Oil prices rose more than $1 a barrel on Friday, supported by falling European inventories and OPEC output cuts, despite an IEA report showing demand growth at its lowest since 2008. For the week, Brent lost more than 5% and WTI fell about 2% amid an unexpected U.S. stock build and China-U.S. trade war fears.

- Date: 2019-08-09 · published 2019-08-09T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10828-oil-rises-on-european-stock-draw-despite-demand-slowdown-forecast
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Tighter European stocks and OPEC cuts provide short-term price support, but weekly losses show demand worries from the trade war still dominate, keeping energy-linked feedstock prices under pressure.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/oil-rises-on-european-inventories-drop-and-expected-opec-cuts-idUSKCN1UZ02I/

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