# Crude oil prices today: WTI, Brent rise on Gaza cease-fire uncertainty

> WTI for April rose $1.29 to $78.87 and Brent rose $1.12 to $83.65 on February 27. Prices were supported by uncertainty over a Gaza cease-fire and by expectations that OPEC+ would extend production cuts beyond the first quarter. Biden said he hoped a cease-fire could be reached by March 4.

- Date: 2024-02-27 · published 2024-02-27T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/31852-crude-oil-prices-today-wti-brent-rise-on-gaza-cease-fire-uncertainty
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Middle East supply risk and expected OPEC+ restraint support higher energy costs, which can lift biofuel and feed transport costs and support vegetable oil prices. The effect on grain and feed prices is modest.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -2.7% | -6.1% |
| WTI | 2024-10-03 | [Crude oil prices today: WTI rises as Biden comments on Middle East risk](https://feedsoft.ai/events/10027-crude-oil-prices-today-wti-rises-as-biden-comments-on-middle-east-risk.md) | +4.4% | -2.4% |
| WTI | 2022-01-25 | [Oil Prices for Jan. 26, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/43302-oil-prices-for-jan-26-2022-brent-crude-wti-bloomberg.md) | +5.6% | +9.6% |
| WTI | 2022-02-28 | [Oil Prices for Mar. 01, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/42854-oil-prices-for-mar-01-2022-brent-crude-wti-bloomberg.md) | +26.3% | +25.9% |
| WTI | 2024-01-31 | [Crude oil prices today: Oil posts first positive month since September](https://feedsoft.ai/events/32276-crude-oil-prices-today-oil-posts-first-positive-month-since-september.md) | -6.0% | +1.3% |
| BRENT | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -3.2% | -7.8% |
| BRENT | 2024-10-03 | [Crude oil prices today: WTI rises as Biden comments on Middle East risk](https://feedsoft.ai/events/10027-crude-oil-prices-today-wti-rises-as-biden-comments-on-middle-east-risk.md) | +3.3% | -2.0% |
| BRENT | 2022-01-25 | [Oil Prices for Jan. 26, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/43302-oil-prices-for-jan-26-2022-brent-crude-wti-bloomberg.md) | +5.5% | +10.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/02/27/crude-oil-prices-today.html

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