# Oil rises over 1% on Iraqi supply risks, U.S. crude draw | Reuters

> Oil rose more than 1% on supply risks from Iraq and a draw in US crude inventories. OPEC+ was also expected to keep its existing reduced output deal at a Monday meeting, according to delegates.

- Date: 2023-03-30 · published 2023-03-30T12:00:00.000Z
- Category: geopolitics · region Iraq · magnitude low
- Page: https://feedsoft.ai/events/36774-oil-rises-over-1-on-iraqi-supply-risks-u-s-crude-draw-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Supply disruption risk in Iraq and a tighter US inventory position support crude prices, which flow through to diesel and biofuel costs for feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-08-31 | [Oil Rises on Gabon Supply Fears, US Crude Inventories Draw \| Business Post Nigeria](https://feedsoft.ai/events/34760-oil-rises-on-gabon-supply-fears-us-crude-inventories-draw-business-post-nigeria.md) | +5.7% | +12.3% |
| BRENT | 2023-03-28 | [Oil prices rise on Kurdish supply risks and banking relief \| Reuters](https://feedsoft.ai/events/37042-oil-prices-rise-on-kurdish-supply-risks-and-banking-relief-reuters.md) | +10.2% | +5.2% |
| BRENT | 2024-12-03 | [Oil rises on fears about Lebanon, further OPEC+ supply cuts \| Reuters](https://feedsoft.ai/events/27114-oil-rises-on-fears-about-lebanon-further-opec-supply-cuts-reuters.md) | +0.8% | +3.2% |
| BRENT | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -5.7% | -24.9% |
| BRENT | 2018-09-27 | [Oil rises as investors fret over Iranian supply gaps](https://feedsoft.ai/events/63232-oil-rises-as-investors-fret-over-iranian-supply-gaps.md) | +5.2% | -5.9% |
| WTI | 2023-08-31 | [Oil Rises on Gabon Supply Fears, US Crude Inventories Draw \| Business Post Nigeria](https://feedsoft.ai/events/34760-oil-rises-on-gabon-supply-fears-us-crude-inventories-draw-business-post-nigeria.md) | +6.4% | +12.3% |
| WTI | 2023-03-28 | [Oil prices rise on Kurdish supply risks and banking relief \| Reuters](https://feedsoft.ai/events/37042-oil-prices-rise-on-kurdish-supply-risks-and-banking-relief-reuters.md) | +10.4% | +5.8% |
| WTI | 2024-12-03 | [Oil rises on fears about Lebanon, further OPEC+ supply cuts \| Reuters](https://feedsoft.ai/events/27114-oil-rises-on-fears-about-lebanon-further-opec-supply-cuts-reuters.md) | +0.4% | +5.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-steadies-us-crude-draw-offset-by-russian-supplies-stronger-dollar-2023-03-30/

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