# Oil up about 2% on big US crude storage draw, Middle East tension

> Brent rose $1.60, or 1.8%, to $91.50 a barrel and WTI gained $1.66, or 1.9%, to $88.32. Both benchmarks reached session highs above $3 higher. The EIA reported a 4.5 million barrel draw in US crude stockpiles for the week ended October 13.

- Date: 2023-11-01 · published 2023-11-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/33799-oil-up-about-2-on-big-us-crude-storage-draw-middle-east-tension
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A larger-than-expected US inventory draw and Middle East tension lift crude and diesel costs, raising energy and freight expenses for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-jump-2-supply-worries-after-large-us-stock-drawdown-2023-10-18/

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