# Brent oil set to notch first monthly gain this year on supply fears

> Brent crude was little changed in early Friday trading and was set to post its first monthly gain of the year. A steep drawdown in oil stocks and OPEC+ output cuts outweighed demand worries tied to rising interest rates.

- Date: 2023-06-30 · published 2023-06-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/35651-brent-oil-set-to-notch-first-monthly-gain-this-year-on-supply-fears
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tightening inventories and continued OPEC+ supply restraint support crude prices, which feed into diesel and freight costs for feed logistics.

## Read by commodity

- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/brent-oil-set-notch-first-monthly-gain-this-year-supply-fears-2023-06-30/

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