# Oil rises 2% on lower-than-expected US inflation data | Reuters

> Oil prices rose about 2% after US consumer price data for the latest month came in below expectations, with CPI up 0.1%. The softer inflation reading eased fears of further monetary tightening.

- Date: 2023-04-12 · published 2023-04-12T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weaker inflation supports a softer dollar and risk appetite, which tends to lift energy and commodity prices; the effect on feed costs is indirect.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-18 | [Canadian dollar rallies after hotter-than-expected inflation data](https://feedsoft.ai/events/45794-canadian-dollar-rallies-after-hotter-than-expected-inflation-data.md) | +1.5% | +9.1% |
| WTI | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -0.2% | -16.8% |
| WTI | 2023-03-31 | [Oil Rises On Cooling US Inflation, Lower Global Supplies](https://feedsoft.ai/events/37043-oil-rises-on-cooling-us-inflation-lower-global-supplies.md) | +8.6% | +3.3% |
| WTI | 2019-07-28 | [C$ steadies, after hitting 1-month low on better-than-expected US data - The Business Times](https://feedsoft.ai/events/58338-c-steadies-after-hitting-1-month-low-on-better-than-expected-us-data-the.md) | -0.8% | -3.5% |
| WTI | 2025-01-27 | [Renewed inflation worries help drive oil price rally \| Reuters](https://feedsoft.ai/events/26662-renewed-inflation-worries-help-drive-oil-price-rally-reuters.md) | -2.8% | -5.2% |
| DXY | 2026-01-01 | [Dollar falls versus yen after smaller-than-expected rise in US inflation, euro eases](https://feedsoft.ai/events/21690-dollar-falls-versus-yen-after-smaller-than-expected-rise-in-us-inflation-euro.md) | +0.3% | -1.5% |
| DXY | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -1.6% | -2.8% |
| DXY | 2023-03-31 | [Oil Rises On Cooling US Inflation, Lower Global Supplies](https://feedsoft.ai/events/37043-oil-rises-on-cooling-us-inflation-lower-global-supplies.md) | -0.1% | +0.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-steady-after-surprise-build-us-crude-stocks-2023-04-12/

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