# Oil near $100 per barrel raises questions over demand destruction

> Brent futures approached $96 and WTI neared $100 per barrel, driven by supply cuts from Saudi Arabia and Russia. Some analysts warned that prices at these levels could cause demand destruction and are unlikely to hold long term.

- Date: 2023-09-29 · published 2023-09-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34274-oil-near-100-per-barrel-raises-questions-over-demand-destruction
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Sustained triple-digit crude would raise costs for diesel, fertilizer and transport across feed supply chains. Analysts' warnings of demand destruction suggest the rally may fade, which limits how long the energy cost pressure lasts.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2023/09/29/a-potential-oil-price-rally-to-100-per-barrel-raises-questions-over-demand-destruction.html

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