# Oil Futures Up, Shake Off Weakness Spurred by GDP Surprise

> US crude futures rose after a surprise GDP reading showed first-quarter growth of 1.6% annualized, well below the 2.3% expected. Brent widened its premium to WTI to a three-month high, and the dollar weakened to a two-week low.

- Date: 2024-04-25 · published 2024-04-25T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30914-oil-futures-up-shake-off-weakness-spurred-by-gdp-surprise
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weaker US growth and a softer dollar tend to support commodity prices, though sluggish fuel demand limits the crude rally.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-08-10 | [WTI Futures Rise on US Stimulus Progress](https://feedsoft.ai/events/51787-wti-futures-rise-on-us-stimulus-progress.md) | +2.1% | -3.6% |
| WTI | 2026-01-29 | [USD/CAD slides to 1.3530, pressured by bullish Oil and weak USD](https://feedsoft.ai/events/21290-usd-cad-slides-to-1-3530-pressured-by-bullish-oil-and-weak-usd.md) | +2.9% | +3.6% |
| WTI | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | +5.3% | +13.4% |
| WTI | 2021-09-30 | [C$ turns weaker as dour Bank of Canada offsets oil surge](https://feedsoft.ai/events/45276-c-turns-weaker-as-dour-bank-of-canada-offsets-oil-surge.md) | +3.5% | +10.2% |
| WTI | 2021-08-30 | [Asian shares rise on dovish Fed chair, oil up as hurricane batters Louisiana \| Reuters](https://feedsoft.ai/events/45753-asian-shares-rise-on-dovish-fed-chair-oil-up-as-hurricane-batters-louisiana.md) | +0.8% | +9.7% |
| BRENT | 2020-08-10 | [WTI Futures Rise on US Stimulus Progress](https://feedsoft.ai/events/51787-wti-futures-rise-on-us-stimulus-progress.md) | +1.3% | -5.3% |
| BRENT | 2026-01-29 | [USD/CAD slides to 1.3530, pressured by bullish Oil and weak USD](https://feedsoft.ai/events/21290-usd-cad-slides-to-1-3530-pressured-by-bullish-oil-and-weak-usd.md) | +0.9% | +1.6% |
| BRENT | 2026-03-17 | [USD/THB: BofA raises Thailand baht forecast on oil shock, tourism weakness By Investing.com](https://feedsoft.ai/events/20444-usd-thb-bofa-raises-thailand-baht-forecast-on-oil-shock-tourism-weakness-by.md) | +1.2% | +5.4% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/world-policy/article/2024/04/25/oil-futures-flat-mixed-us-macros-eia

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