# Oil rises 1% on signs of tightening supplies | Reuters

> Oil rose about 1% on signs of tightening supplies, while traders continued to price in Federal Reserve rate cuts no earlier than later in the year. Concerns that cuts could take longer have weighed on prices.

- Date: 2024-02-21 · published 2024-02-21T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31839-oil-rises-1-on-signs-of-tightening-supplies-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tighter supply signals support crude and diesel costs, though rate expectations cap the upside for energy input prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-rises-markets-weigh-red-sea-attacks-us-rate-cuts-2024-02-21/

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