# Oil climbs 2% to three-week high on China stimulus, Mideast conflict

> Oil rose about 2% to a three-week high on Sept. 24 after China announced monetary stimulus. Brent settled at $75.17 and prices were also supported by concerns that Middle East conflict could disrupt regional supply. Storm Helene was expected to miss most U.S. offshore oil production.

- Date: 2024-09-24 · published 2024-09-24T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/28484-oil-climbs-2-to-three-week-high-on-china-stimulus-mideast-conflict
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Chinese stimulus raises expectations for energy demand, while Middle East risk adds a supply premium. Higher energy costs can lift biofuel and feed-processing margins.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-30 | [South African rand weakens as Middle East conflict elevates oil prices \| CNBC Africa](https://feedsoft.ai/events/20456-south-african-rand-weakens-as-middle-east-conflict-elevates-oil-prices-cnbc.md) | +1.2% | -5.1% |
| BRENT | 2021-10-15 | [Oil prices rise to three-year high on back of supply deficit forecasts](https://feedsoft.ai/events/44716-oil-prices-rise-to-three-year-high-on-back-of-supply-deficit-forecasts.md) | +0.8% | -0.9% |
| BRENT | 2026-09-14 | [Dollar gains as Middle East conflict lifts oil, Fed hike looms By Reuters](https://feedsoft.ai/events/17642-dollar-gains-as-middle-east-conflict-lifts-oil-fed-hike-looms-by-reuters.md) | +0.3% | +5.0% |
| BRENT | 2019-06-20 | [Rupee surges by 24p to 1-wk high on US rate cut hopes](https://feedsoft.ai/events/58891-rupee-surges-by-24p-to-1-wk-high-on-us-rate-cut-hopes.md) | +7.0% | +2.1% |
| BRENT | 2026-08-01 | [Baht set to decline again amid Mideast war](https://feedsoft.ai/events/18616-baht-set-to-decline-again-amid-mideast-war.md) | -7.4% | -3.1% |
| WTI | 2016-11-17 | [C$ strengthens to a 1-week high as oil climbs](https://feedsoft.ai/events/74055-c-strengthens-to-a-1-week-high-as-oil-climbs.md) | +3.4% | +11.7% |
| WTI | 2016-12-01 | [Dollar climbs to 9-1/2-month high vs yen on oil, Mnuchin](https://feedsoft.ai/events/73709-dollar-climbs-to-9-1-2-month-high-vs-yen-on-oil-mnuchin.md) | +0.8% | +8.8% |
| WTI | 2018-07-30 | [Canadian dollar climbs to 7-week high on NAFTA optimism, oil rally - Financial Post](https://feedsoft.ai/events/64254-canadian-dollar-climbs-to-7-week-high-on-nafta-optimism-oil-rally-financial-post.md) | -0.3% | +1.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-concerns-wider-middle-east-conflict-us-storm-2024-09-24/

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