# Oil Rises On Cooling US Inflation, Lower Global Supplies

> Oil prices rose for a second week as February US PCE inflation came in softer than expected and crude supplies were cut in some regions. WTI gained 1.6% to $75.57 and Brent edged up to $79.76.

- Date: 2023-03-31 · published 2023-03-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/37043-oil-rises-on-cooling-us-inflation-lower-global-supplies
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Slower inflation lowers the odds of aggressive Fed rate hikes, supporting energy demand expectations and commodity prices, while the Kurdistan export halt adds supply tightness.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-04-12 | [Oil rises 2% on lower-than-expected US inflation data \| Reuters](https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters.md) | -0.8% | -9.6% |
| WTI | 2019-09-16 | [Oil spike sends India assets lower as inflation concerns revive](https://feedsoft.ai/events/57385-oil-spike-sends-india-assets-lower-as-inflation-concerns-revive.md) | +5.8% | -0.1% |
| WTI | 2019-02-01 | [Oil rises on strong US jobs data and falling rig count](https://feedsoft.ai/events/60760-oil-rises-on-strong-us-jobs-data-and-falling-rig-count.md) | -2.1% | +6.3% |
| WTI | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | -10.8% | -16.4% |
| WTI | 2024-01-18 | [Oil prices rise on global demand forecasts, US crude stock draw](https://feedsoft.ai/events/32278-oil-prices-rise-on-global-demand-forecasts-us-crude-stock-draw.md) | +3.6% | +5.8% |
| BRENT | 2019-09-16 | [Oil spike sends India assets lower as inflation concerns revive](https://feedsoft.ai/events/57385-oil-spike-sends-india-assets-lower-as-inflation-concerns-revive.md) | +6.6% | -0.3% |
| BRENT | 2019-02-01 | [Oil rises on strong US jobs data and falling rig count](https://feedsoft.ai/events/60760-oil-rises-on-strong-us-jobs-data-and-falling-rig-count.md) | -1.4% | +5.4% |
| BRENT | 2024-01-18 | [Oil prices rise on global demand forecasts, US crude stock draw](https://feedsoft.ai/events/32278-oil-prices-rise-on-global-demand-forecasts-us-crude-stock-draw.md) | +3.5% | +5.9% |

## Sources

- db.forbesmiddleeast.com: https://db.forbesmiddleeast.com/industry/energy/oil-rises-on-slowing-us-consumer-spending-tightening-supplies-worldwide

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