# Crude oil surge caps strong four-week rally for commodities | Saxo

> Commodities rose for a fourth straight week, with the sector up 9.3% over four weeks, supported mainly by energy. Brent neared $80 a barrel as markets awaited Israel's response to Iran, and distillate contracts gained as short sellers covered positions.

- Date: 2024-10-07 · published 2024-10-07T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11684-crude-oil-surge-caps-strong-four-week-rally-for-commodities-saxo
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Energy-led strength across the commodity complex raises input costs for feed production, including fuel and fertilizer-linked costs. Oil strength supports vegetable oil and biofuel-linked prices, though short-term geopolitical moves may reverse.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Sources

- home.saxo: https://www.home.saxo/content/articles/commodities/crude-oil-surge-caps-strong-four-week-rally-for-commodities-07102024

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