# Brent Crude Surges in Best Week Since '16 as U.S. Economy Shines - Bloomberg

> Brent crude posted its best weekly gain since December 2016, rising 9.3% after a strong U.S. jobs report and dovish Federal Reserve comments on interest rates. Production declines in Saudi Arabia and Libya also supported prices, which had collapsed in 2018 on supply-glut fears.

- Date: 2019-01-04 · published 2019-01-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10829-brent-crude-surges-in-best-week-since-16-as-u-s-economy-shines-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Stronger demand expectations and supply cuts lift crude prices, which feed into diesel and freight costs for feed producers. The gain reflects a partial recovery from the 2018 slump rather than a new supply shock.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-01-10 | 5 | +13.6% | 3.3 | Brent's 9.3% weekly gain on strong US jobs, dovish Fed and Saudi/Libya production declines contributed a large share of the window's rise. |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-01-04/oil-set-for-biggest-weekly-gain-in-a-month-as-opec-output-falls

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