# Oil rises 1% on China demand hopes and supply concerns | Reuters

> Oil prices rose over 1% on Monday on optimism about Chinese demand and supply concerns. Brent settled up $1.07 at $84.07 and WTI for March rose 85 cents to $77.19.

- Date: 2023-02-20 · published 2023-02-20T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/37487-oil-rises-1-on-china-demand-hopes-and-supply-concerns-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of stronger Chinese fuel demand support crude and diesel prices, which feed into farm input and freight costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-little-changed-nurse-last-weeks-losses-improved-supplies-2023-02-20/

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