# Brent crude settles below $50 for first time since Opec deal

> Brent crude settled below $50 a barrel for the first time since OPEC and other producers agreed output cuts late last year, closing at $48.38. WTI settled at $45.52 after falling 4.8%, as data showed persistently high inventories.

- Date: 2017-05-04 · published 2017-05-04T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11192-brent-crude-settles-below-50-for-first-time-since-opec-deal
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Persistently high inventories signal that the OPEC pact is not clearing the surplus fast enough, supporting continued downward pressure on crude prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- ft.com: https://www.ft.com/content/fede01df-6f58-346c-8794-c1d932ad5faf?syn-25a6b1a6=1

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