# Oil rises 1% ahead of inflation data after downbeat week | Reuters

> Brent crude settled up about 1% at $83.12 a barrel and WTI rose 93 cents to $78.65 in thin holiday trade. Prices recovered after a downbeat week driven by Federal Reserve minutes suggesting officials could raise rates again if inflation stayed high.

- Date: 2024-05-27 · published 2024-05-27T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/30414-oil-rises-1-ahead-of-inflation-data-after-downbeat-week-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher-for-longer US rate expectations strengthen the dollar and weigh on energy demand expectations, which tends to cap crude and diesel prices, a cost input for feed freight and processing.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-little-changed-markets-look-opec-meeting-2024-05-27/

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