# Oil settles $1 up, war risk premium outweighs ample US stocks

> Oil futures settled higher on Thursday on worries about global crude supply disruptions despite ample US inventories. Brent settled up $1.14 at $86.39 a barrel and WTI rose 84 cents to $81.74.

- Date: 2024-06-27 · published 2024-06-27T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/29924-oil-settles-1-up-war-risk-premium-outweighs-ample-us-stocks
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude lifts biofuel and energy-linked costs and supports soyoil and palm oil values, while feed costs rise via freight and fertilizer.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-10-22 | [Oil settles up 2% as Middle East war rages and supplies tighten](https://feedsoft.ai/events/28035-oil-settles-up-2-as-middle-east-war-rages-and-supplies-tighten.md) | -4.8% | -2.3% |
| WTI | 2024-10-04 | [Oil settles up, biggest weekly gains in over a year on Middle East war risk \| Reuters](https://feedsoft.ai/events/10024-oil-settles-up-biggest-weekly-gains-in-over-a-year-on-middle-east-war-risk.md) | +2.9% | -6.3% |
| WTI | 2026-07-29 | [Middle East strikes and shrinking US crude stocks send oil prices up](https://feedsoft.ai/events/18518-middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up.md) | -4.4% | +3.8% |
| WTI | 2019-05-28 | [Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries](https://feedsoft.ai/events/59242-brent-oil-rises-above-70-as-opec-cuts-us-sanctions-outweigh-trade-war-worries.md) | -8.9% | -1.2% |
| WTI | 2023-12-20 | [Oil settles up on Red Sea tensions; gains capped by US stock builds \| Reuters](https://feedsoft.ai/events/32883-oil-settles-up-on-red-sea-tensions-gains-capped-by-us-stock-builds-reuters.md) | +1.3% | +0.4% |
| BRENT | 2024-10-22 | [Oil settles up 2% as Middle East war rages and supplies tighten](https://feedsoft.ai/events/28035-oil-settles-up-2-as-middle-east-war-rages-and-supplies-tighten.md) | -2.9% | +0.0% |
| BRENT | 2024-10-04 | [Oil settles up, biggest weekly gains in over a year on Middle East war risk \| Reuters](https://feedsoft.ai/events/10024-oil-settles-up-biggest-weekly-gains-in-over-a-year-on-middle-east-war-risk.md) | +2.4% | -5.7% |
| BRENT | 2026-07-29 | [Middle East strikes and shrinking US crude stocks send oil prices up](https://feedsoft.ai/events/18518-middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up.md) | -2.3% | +4.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-slide-fears-slow-us-demand-after-surprise-inventory-build-2024-06-27/

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