# Physical oil market flashes first signs of weakness after rally

> Physical crude prices in some major markets weakened on Oct 25 as freight costs rose and refining margins fell. Traders and LSEG data point to softer demand. Brent futures had earlier climbed above $87 from the low $70s since June on OPEC+ cuts.

- Date: 2023-10-25 · published 2023-10-25T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/33792-physical-oil-market-flashes-first-signs-of-weakness-after-rally
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A softening physical market often leads futures lower, which would ease energy input costs for feed producers. The signal is still early and not confirmed by futures.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/physical-oil-market-flashes-first-signs-weakness-after-rally-2023-10-25/

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