# The Commodities Feed: Hawkish Fed comments weigh on the complex | articles | ING THINK

> Hawkish comments from the Federal Reserve, indicating possible rate increases in July and September, weighed on the commodity complex. The EIA reported a sharp weekly drop in U.S. commercial crude inventories to 453.7 million barrels, though Cushing stocks rose to their highest since June 2021.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/35414-the-commodities-feed-hawkish-fed-comments-weigh-on-the-complex-articles-ing
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher rate expectations strengthen the dollar and pressure commodity prices, partly offsetting the supportive crude inventory draw that lifted energy prices.

## Read by commodity

- DXY: bullish ▲
- WTI: neutral
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-12-19 | [The Commodities Feed: Fed comments weigh on the complex \| ING THINK](https://feedsoft.ai/events/26850-the-commodities-feed-fed-comments-weigh-on-the-complex-ing-think.md) | +0.5% | +1.4% |
| DXY | 2022-02-11 | [The Commodities Feed: US Fed pressure weighs on the commodities complex \| snaps \| ING THINK](https://feedsoft.ai/events/42647-the-commodities-feed-us-fed-pressure-weighs-on-the-commodities-complex-snaps.md) | +0.1% | +2.2% |
| DXY | 2023-10-03 | [The Commodities Feed: It’s all about the yields \| articles \| ING THINK](https://feedsoft.ai/events/33531-the-commodities-feed-it-s-all-about-the-yields-articles-ing-think.md) | -0.1% | +0.6% |
| DXY | 2025-05-08 | [The Commodities Feed: Markets disappointed as Fed remains on hold \| articles \| ING THINK](https://feedsoft.ai/events/24575-the-commodities-feed-markets-disappointed-as-fed-remains-on-hold-articles-ing.md) | +0.5% | -0.9% |
| DXY | 2024-12-20 | [The Commodities Feed: Stronger USD prompts oil sell-off \| articles \| ING THINK](https://feedsoft.ai/events/26895-the-commodities-feed-stronger-usd-prompts-oil-sell-off-articles-ing-think.md) | -0.1% | -0.2% |
| BRENT | 2024-02-01 | [The Commodities Feed: Fed comments weigh on the complex \| articles \| ING THINK](https://feedsoft.ai/events/31573-the-commodities-feed-fed-comments-weigh-on-the-complex-articles-ing-think.md) | -2.6% | +1.9% |
| BRENT | 2024-12-19 | [The Commodities Feed: Fed comments weigh on the complex \| ING THINK](https://feedsoft.ai/events/26850-the-commodities-feed-fed-comments-weigh-on-the-complex-ing-think.md) | -0.8% | +10.7% |
| BRENT | 2022-02-11 | [The Commodities Feed: US Fed pressure weighs on the commodities complex \| snaps \| ING THINK](https://feedsoft.ai/events/42647-the-commodities-feed-us-fed-pressure-weighs-on-the-commodities-complex-snaps.md) | +0.3% | +19.2% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-hawkish-fed-comments-weigh-on-the-complex/

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