# US oil jumps $1 on crude draw, tight global supply - Times of India

> U.S. crude futures rose nearly $1 to above $95, the highest since August 2022, after U.S. crude stocks fell 2.2 million barrels, far more than the 320,000-barrel drop analysts expected. Cushing stocks dropped to about 22 million barrels. Brent climbed to levels not seen since November.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/34280-us-oil-jumps-1-on-crude-draw-tight-global-supply-times-of-india
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The large inventory draw signals tighter-than-expected supply and reinforces the OPEC+ cut effect on prices. Higher crude costs raise diesel and energy costs for feed production and transport.

## Read by commodity

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

## Sources

- timesofindia.indiatimes.com: https://timesofindia.indiatimes.com/business/international-business/us-oil-jumps-1-on-crude-draw-tight-global-supply/articleshow/104002782.cms

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