# Oil steady, notches 3rd weekly gain after shock OPEC+ cuts | Reuters

> Brent settled slightly higher at $85.12 and WTI at $80.70 after benchmarks rose more than 6% during the week following OPEC+'s surprise output cut. Trading was closed for the Good Friday holiday.

- Date: 2023-04-06 · published 2023-04-06T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/36562-oil-steady-notches-3rd-weekly-gain-after-shock-opec-cuts-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The rally reflects a tighter crude supply outlook, which raises diesel and transport costs and can support vegetable oil prices through biofuel demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-ease-weak-economic-data-clouds-demand-prospects-2023-04-05/

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