# The Commodities Feed: It’s all about the yields | articles | ING THINK

> Brent settled about 1.6% lower as rising Treasury yields and dollar strength weighed on oil. OPEC output rose about 50 kbbl/d month on month in September to 27.97 mb/d, led by Nigeria, while Iranian output eased slightly. Attention is on Northern Iraqi flows through the Ceyhan pipeline, which Turkey said could resume but Iraq disputed.

- Date: 2023-10-03 · published 2023-10-03T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/33531-the-commodities-feed-it-s-all-about-the-yields-articles-ing-think
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar and higher yields pressure energy and other commodity prices, while steady OPEC supply limits upside. Resumed Iraqi exports would add supply and weigh further on crude, which feeds into diesel and biofuel costs.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2023-10-05 | 5 | -9.6% | -2.8 | Rising Treasury yields and dollar strength weighed on Brent on Oct 3, and OPEC output rose. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-02-01 | [The Commodities Feed: Fed comments weigh on the complex \| articles \| ING THINK](https://feedsoft.ai/events/31573-the-commodities-feed-fed-comments-weigh-on-the-complex-articles-ing-think.md) | -2.6% | +1.9% |
| BRENT | 2022-09-08 | [The Commodities Feed: USD strength and demand worries \| articles \| ING THINK](https://feedsoft.ai/events/14903-the-commodities-feed-usd-strength-and-demand-worries-articles-ing-think.md) | +6.9% | +7.4% |
| BRENT | 2024-12-20 | [The Commodities Feed: Stronger USD prompts oil sell-off \| articles \| ING THINK](https://feedsoft.ai/events/26895-the-commodities-feed-stronger-usd-prompts-oil-sell-off-articles-ing-think.md) | +0.9% | +10.8% |
| BRENT | 2023-06-29 | [The Commodities Feed: Hawkish Fed comments weigh on the complex \| articles \| ING THINK](https://feedsoft.ai/events/35414-the-commodities-feed-hawkish-fed-comments-weigh-on-the-complex-articles-ing.md) | +3.9% | +12.3% |
| BRENT | 2021-08-27 | [The Commodities Feed: USD holds the market back \| snaps \| ING THINK](https://feedsoft.ai/events/45481-the-commodities-feed-usd-holds-the-market-back-snaps-ing-think.md) | +3.6% | +8.6% |
| WTI | 2024-02-01 | [The Commodities Feed: Fed comments weigh on the complex \| articles \| ING THINK](https://feedsoft.ai/events/31573-the-commodities-feed-fed-comments-weigh-on-the-complex-articles-ing-think.md) | -2.6% | +3.6% |
| WTI | 2022-09-08 | [The Commodities Feed: USD strength and demand worries \| articles \| ING THINK](https://feedsoft.ai/events/14903-the-commodities-feed-usd-strength-and-demand-worries-articles-ing-think.md) | +7.8% | +7.0% |
| WTI | 2024-12-20 | [The Commodities Feed: Stronger USD prompts oil sell-off \| articles \| ING THINK](https://feedsoft.ai/events/26895-the-commodities-feed-stronger-usd-prompts-oil-sell-off-articles-ing-think.md) | +1.5% | +9.2% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-its-all-about-the-yields031023/

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