# Oil rises to highest in 2023 on tight supply expectations | Reuters

> Oil prices climbed to their highest level of 2023 as expectations of tighter supply outweighed worries about weaker demand. Brent rose $1.82 to settle at $93.70, its highest since November 2022. The move reflects supply expectations tied to OPEC+ production cuts.

- Date: 2023-09-14 · published 2023-09-14T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34282-oil-rises-to-highest-in-2023-on-tight-supply-expectations-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude raises energy and freight costs across the feed supply chain. Tight OPEC+ supply expectations suggest energy costs may stay elevated.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-tick-up-markets-zoom-supply-tightness-2023-09-14/

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