# Ahead of the game: 27 May 2024 | IG International

> The Dow and S&P 500 ended multi-week winning streaks as hot US data pushed back expected Fed rate cuts. Crude oil fell 3.3% during the week to about $76.90 a barrel, pressured by strong US data and expectations of higher rates.

- Date: 2024-05-24 · published 2024-05-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/30534-ahead-of-the-game-27-may-2024-ig-international
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude prices reduce energy input costs and biofuel margins, which can weigh on vegetable oil and corn-based fuel demand. The move is a routine weekly summary rather than a new supply shock.

## Read by commodity

- WTI: bearish ▼

## Sources

- ig.com: https://www.ig.com/en/news-and-trade-ideas/ahead-of-the-game--27-may-2024-240527

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