# Oil prices up, hit nearly 3-month high as US inflation eases | Reuters

> Brent crude futures rose $1.25, or 1.6%, to settle at $81.36 per barrel, with a session peak of $81.57, the highest since April 25. The move was attributed to a tightening market and possible OPEC support.

- Date: 2023-07-13 · published 2023-07-13T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/35218-oil-prices-up-hit-nearly-3-month-high-as-us-inflation-eases-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude prices lift energy and transport costs for feed producers and can support biofuel-linked demand for vegetable oils. The move is routine price commentary with no major new supply shock.

## Read by commodity

- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-early-trade-us-inflation-cools-2023-07-13/

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