# Oil flat on week as U.S. inventories rise but Russia cuts supply

> Oil was flat on the week, with Brent settling at $83.16 and WTI at $76.32 on Friday. Prices were supported by expected lower Russian exports but pressured by U.S. inventories at their highest since May 2021.

- Date: 2023-02-24 · published 2023-02-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/37492-oil-flat-on-week-as-u-s-inventories-rise-but-russia-cuts-supply
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Record-high-since-2021 U.S. inventories offset supply support from Russia, leaving energy costs range-bound for feed-related inputs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- cnbc.com: https://www.cnbc.com/2023/02/24/oil-gains-on-russian-supply-cut-worries-higher-us-inventories-weigh.html

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