# Crude prices fall, pulling back from highest levels in more than a year

> Crude prices pulled back after WTI and Brent hit their highest levels in more than a year on Sept. 28. WTI last fell 2.09% to $91.72 after touching $95.03 earlier in the session. Cushing stocks at 22 million barrels were the lowest since July 2022.

- Date: 2023-10-01 · published 2023-10-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34281-crude-prices-fall-pulling-back-from-highest-levels-in-more-than-a-year
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The retreat from the peak is a short-term correction and does not change the tight supply outlook from OPEC+ cuts. Energy costs remain elevated for feed producers and transport.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2023-10-01 | 1 | -2.4% | -3.7 | Describes crude pulling back from multi-year highs with WTI down about 2%, matching the timing and direction of the Brent decline through the window via profit-taking. |

## Sources

- cnbc.com: https://www.cnbc.com/2023/09/28/crude-oil-wti-brent-prices-surge-to-highest-level-in-more-than-a-year.html

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