# Oil Jumps as U.S. Equities Regain Ground, OPEC Output Declines - Bloomberg

> Oil closed higher on the first trading day of 2019 as U.S. equities recovered and data showed OPEC starting its promised production cut early. Brent rose 2.1% while WTI also recovered from early losses after weak Chinese manufacturing data.

- Date: 2019-01-01 · published 2019-01-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10831-oil-jumps-as-u-s-equities-regain-ground-opec-output-declines-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Early OPEC cut implementation supports crude prices, though weak Chinese manufacturing data limits gains. Energy price moves pass through to diesel and fertilizer costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-01-02 | 1 | +6.9% | 3.3 | Rebound in U.S. equities and early OPEC output cuts lifted oil on the first trading day of 2019, a sentiment and supply-driven bounce from oversold levels. |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-01-01/oil-gains-on-optimism-for-deal-to-end-u-s-government-shutdown

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